Tomorrow's Business Press Release of the day - These companies are worth billions but aren’t making a profit , study reveals

New research can today reveal all the huge companies that have yet to turn a profit - from Airbnb to Deliveroo.

The study, carried out by experts at Approve.com, looked at the most popular and well-known brands and explored their founding year and their first profitable financial year, to reveal the fastest companies to turn a profit & those that still aren’t profitable.

The full research can be found at the following link: https://approve.com/time-to-profit/

Some of the world’s most talked about companies are yet to turn a profit:

Companies that have yet to turn a profit:

Company	Founded	Current Revenue (Billions)
Epic	1991	$3.85
Zillow	2004	$2.70
Reddit	2005	$0.32
Airbnb	2008	$5.30
Grammarly	2009	$0.07
Stripe	2010	$0.65
WeWork	2010	$3.20
Blue Apron	2012	$0.54
Peloton	2012	$3.80
Deliveroo	2013	$1.20
Databricks	2013	$0.23
Casper	2013	$0.15
Nubank	2013	$0.64
Revolut	2015	$0.19
Monzo	2015	$0.06
BlockFi	2017	$0.10
Hopin (Zoom)	2019	$0.06

Epic, creator of Epic Games and known for the incredibly popular Fortnite among other titles, was founded way back in 1991 and has still yet to turn a profit.

Reddit, founded in 2005, is still focused on growth instead of profitability and has never reported an annual profit. Reddit has, however, begun heavily investing in the ad platform, which may see the company become profitable as soon as 2022.

Market-disruptive tech company Airbnb demonstrates higher revenues ($5.30bn) than some of the most successful and profitable companies, for example, Twitter ($5.1bn) and Snapchat ($4.1). However, the company has yet to turn a profit.

WeWork, a former unicorn startup with high revenues, still operates at a loss 14 years after being founded. The company’s management projects that the company will reach a breakeven point in 2022.

Top fastest companies to turn a profit:

Rank	Company	Founded	First Profit	Years to Profit	Current Revenue (Billions)
1	Ford	1903	1903	0.5	$136.3
2	Apple	1976	1978	2.0	$365.8
3	Alphabet / Google	1998	2001	3.0	$239.2
3	Intel	1968	1971	3.0	$79.0
4	Meta / Facebook	2004	2009	5.0	$109.5
4	Fedex	1971	1976	5.0	$22.6
5	Walmart	1962	1968	6.0	$572.8
5	Netflix	1997	2003	6.0	$28.6
5	ESPN	1979	1985	6.0	$10.0
5	Zopa	2005	2011	6.0	$0.3
6	ByteDance (TikTok)	2012	2019	7.0	$58.0
7	Amazon	1994	2003	9.0	$38.6

The study also looked at the fastest companies to turn a profit:

Ford ranked first as the company that started making money fastest, in fact, it only took Ford five months to start turning a profit. Apple ranked second, managing to turn profit in only two years, while Google came in third place, taking three years to start making money.

FURTHER FINDINGS:

Amazon, one of today’s biggest multinational companies dominating the e-commerce industry, only turned its first profit nine years after being founded.
Tesla spent 17 years unprofitable, largely due to burning through tremendous volumes of money in order to grow.

See the findings of the study here: https://approve.com/time-to-profit/

Top ten and bottom ten occupations by growth in job postings:

Key indicator occupations

09th May 2022

Subscribe to Tomorrow's Business

Tomorrow's Business is brought to you by Roxhill Media