An Unexpected Pandemic Boom for Many Startup Brands

November 19, 2020

There was a great piece recently in Bloomberg about how Covid-19 has created a boom in business for some startup brands that didn’t expect it.

To save you time, here is a bullet point rundown of all the juicy details from the article:

  • DoorDash.  The food-delivery filed for an IPO on Friday; they’re working the momemtum after just recently raising $400 million in a private financing round.
  • Record funding for consumer startups in 2020. Deals and financing totaled more than $6.6 billion in the third quarter, according to CB Insights. Full year number is projected to hit nearly $18 billion, an all-time high.
  • Money is getting spread around though.  It’s not just the big names having all the fun.  CB Insights tallied 414 deals in the sector for the quarter.

The pandemic has rewritten the rules of consumer demand, and we expect that it will continue to do so post-pandemic, once we get to that point.  The usual players won’t be the usual ones anymore, and startups have an opportunity to ascend.

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