21 successful startups founded during the last recession that made millions in revenue, listed colossal IPOs, sold to major companies, or became household brands

Courtesy of Rent the Runway

Jennifer Hyman and Jennifer Fleiss founded Rent the Runway during the Great Recession.

• Starting a new company in the middle of an economic downturn can be risky.
• Yet many successful startups have proven it's not only possible, but that it can be an opportune time to start a business.
• Business Insider rounded up 21 successful startups that were founded during the Great Recession.
• Click here for more BI Prime content.

Starting a new company on a shoestring budget is one thing, but starting one in the middle of an economic downturn sounds like Russian Roulette. Yet many companies have proven it's not only possible, but that empires can rise out of desperation.

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Disney is a brand that has influenced almost every household in America, yet its humble beginnings during the Great Depression could have driven its founders to give up.

Walt Disney and his brother Roy established Disney Brothers Cartoon Studio in 1923 right before going bankrupt. They moved production from Kansas City, Missouri to Hollywood, then reincorporated their business as Walt Disney Productions in 1929 - the year the US stock market crashed. Today, The Walt Disney Company is one of the biggest entertainment conglomerates in the world and made a record $69 billion in revenue last year.

While it is a huge risk and the road is long, starting a company during a recession comes with its advantages. Rick Schaden and Tom Ryan started fast-casual restaurant Smashburger in 2007 at the beginning of the Great Recession. Former CEO Scott Crane told Forbes that more affordable real estate gave the new chain access to key locations that it wouldn't have been able to snag in a better economy.

These companies prove that there really isn't an ideal time to start a business, and in many cases, the worst conditions can bring new ideas to life, force founders to be resourceful, and instill long-term discipline.

Here are 21 successful startups that started during the Great Recession, from 2007 to 2009.