This year has been an unsteady run for a few companies, with Facebook experiencing huge public relations disasters and General Electric experiencing problems under management of ex-CEO Jeff Immelt.
Amid all these controversies, here are three companies that defied odds and revived themselves in 2018
Twitter has been around on the internet, with its little blue tweeting bird, for quite some time. However, with the rise of many widely popular social media platforms, it has seen succession of disappointments. However, the company is now emerging as a profitable company.
Despite the total number of users in a month falling, daily user growth has been up by double digits and engage is improving. The strong revenue growth is also due to its skill to bring value to marketers and advertisers with the help of video ads. With the steps taken by the management to mitigate issues of abuse and safety, the market is expecting Twitter’s new found growth to carry on into 2019.
The car ride app has its biggest market share in the US but it is truly a global organization. The company faced extreme backlash in 2017 when the #DeleteUber campaign arose, costing the company major losses in market share to competitor Lyft. This, coupled with sexual harassment allegations and the resignation of CEO Travis Kalanick resulted in a disastrous 2017 for the company.
But under the management of new CEO Dara Khosrowshahi, Uber has turned things around. It relaunched its service in London, launched UberX in Spain, and retreated from Russia and Southeast Asia taking stakes in return. These steps taken by the new management have solidified Uber’s leadership position with the New Year right around the corner.
Despite the erratic nature of its Founder, Elon Musk, Tesla crushed expectations in 2018 with high profit (almost $1 billion in free cash flow). Earlier this year, Musk faced production challenges with Model 3 and was burning through cash. The company faced major problems at its Nevada Gigafactory, which produces the battery packs needed for the cars. Musk had to reduce automation and introduce a manual production line to improve the conditions.
Moreover, Musk’s ‘The Boring Company’ unveiled a tunnel for Teslas meant to be the answer to Los Angeles’ “soul-crushing traffic” by providing a high speed route through the tunnel. The tunnel is yet to be functional but it gives an idea of where Musk’s vision for the future is headed. No doubt, Tesla is ending the year with a bang; let’s see if it can maintain this momentum in 2019.
What do you think about these companies and the comebacks they made?
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