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Havish Gupta
StealthĀ ā¢Ā 6m
Imagine selling your one-year-old company for $400 million! Well, that's exactly what happened with Sabeer Bhatia and Jack Smith, the founders of Hotmail. Launched in 1996, Hotmail was one of the first online email services, introduced even before Gmail and Yahoo Mail. Its good UI and UX quickly made Hotmail a hit, gaining over 8.5 million users within its first year of launch. Recognizing its potential, Microsoft purchased Hotmail in December 1997 for $400 million. At its peak, Hotmail controlled 30-40% of the worldwide email network. However, it started struggling after the launch of Yahoo Mail in 1997 and Gmail in 2004. These platforms were not only easier to use but also offered additional services, making Hotmail an interior choice. In response, Microsoft rebranded Hotmail to Outlook in 2012 and specifically targeted it for business purposes. Today, Outlook boasts over 500 million users and is part of the Microsoft 365 subscription. Did you ever use it?
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