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From Microsoft to Revlon, here are seven companies that not only began their operations during economic downturns but also thrived in them.
Airbnb
Known for its short-term rental services, Airbnb was founded in 2007, during the Great Recession, by roommates Brian Chesky and Joe Gebbia, who named it “AirBed & Breakfast”.
Uber
Cab-hailing platform Uber was founded at the end of the subprime crisis in 2009 by Travis Kalanick and Garrett Camp, after struggling to find a cab in Paris. It was initially named UberCab.
Microsoft
The tech giant was established in 1975 by Bill Gates and Paul Allen during the 1970s recession, which was caused by the Arab oil embargo.
MTV
Music Television was launched in 1981 during the global recession of the 1980s. MTV became the first cable channel to broadcast only music 24/7.
Revlon
The drugstore makeup brand was established in 1932 during the peak of the Great Depression (1929-39) by the Revson brothers and chemist Charles Lachman.
Disney
While Disney was established by Walt and Roy O. Disney in 1923, a few years before the Great Depression, the company took off in 1928 with the release of Mickey Mouse.
General Electric
It was formed from a merger between Thomas Edison’s company and Thomson-Houston Electric in 1892, around the time of the Panic of 1893 (a severe economic recession in the US).
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