Startup stories: OpenAI to YouTube, companies that gained success overnight

When ChatGPT was launched back in 2022, it got the entire world talking. The AI chatbot, launched by OpenAI, gained popularity rapidly for composing poetry, writing code, coming up with content ideas, proofreading and rewriting content, and whatnot. As a result, OpenAI became an overnight success story of sorts and its CEO, Sam Altman, became a household name. Even though OpenAI started its operations back in 2015 (Elon Musk was also one of the co-founders of the company), the company tasted immense success only after ChatGPT’s launch.

However, OpenAI isn’t the only company which saw sudden success. There have been many other companies in the past that saw overnight success and became a topic of discussion. Let us take a look at some of these companies.

OpenAI: A game-changing AI revolution

OpenAI, now a giant in the AI industry, was founded in 2015. The organization, co-founded by Sam Altman, Elon Musk, and other tech experts, aimed to develop AI that would benefit humanity as a whole. Despite its early promise, it wasn’t until the launch of ChatGPT in 2022 that OpenAI truly became a sensation. Within just five days of its release, ChatGPT had attracted a million users, and the platform now boasts over 100 million users globally. This explosive growth turned OpenAI into an overnight success, with the company’s value skyrocketing to nearly $86 billion in just two years.

Even though there are many other AI chatbots in the market today, it won’t be wrong to say that OpenAI was a pioneer in introducing people to a chatbot that could solve almost any problem in a couple of seconds.

Instagram: From a photo app to a popular social media platform

In 2024, it is sort of impossible to imagine a life without Instagram if you are an active social media user. The platform today offers various features such as the ability to create reels, share photos and videos, connect with people from around the world and so on.

But the photo-sharing app had humble beginnings. Launched in 2010, Instagram quickly gained traction, reaching one million users in just two months. Its rapid rise caught the attention of Facebook, which acquired Instagram for $1 billion in 2012. What started as a simple app for sharing photos has evolved into one of the world’s most influential social media platforms, shaping how people connect and share their lives online.

Slack: From an internal comms app to many corporates’ best friend

Slack’s journey to success is a story of turning failure into opportunity. Originally created as an internal communication tool for the team working on the video game Glitch, Slack was born from the ashes of that project’s collapse.

Stewart Butterfield, the CEO of Tiny Speck (the company behind Glitch), recognised the potential of the communication tool and decided to pivot the company’s focus. Slack was officially launched to the public in 2014, and it quickly became the fastest-growing enterprise software ever, changing how teams communicate and collaborate.

YouTube: From an unsuccessful dating site to a video streaming giant

YouTube’s origins are a perfect example of how a failed idea can lead to something much bigger. Initially conceived as a video dating site called "Tune In Hook Up," YouTube’s founders quickly realized the concept wasn’t working.

They pivoted, focusing instead on creating a platform where users could upload and share videos of any kind. This decision turned YouTube into the world’s go-to video-sharing site, eventually leading to its acquisition by Google in 2006 for $1.65 billion. Today, YouTube is used across the world and is the go-to app for videos.

Dropbox: Simple idea turned profitable

Dropbox’s rise to fame was fueled by a simple yet powerful idea: making cloud storage easy and accessible. Launched in 2008, Dropbox offered users a solution to the common problem of accessing and sharing files across devices. The company’s referral program, which rewarded users with extra storage space for inviting friends, helped Dropbox rapidly grow its user base. Within six months, it had reached one million users, and by 2011, Dropbox was valued at $4 billion, just three years after its founding.