Title: US Techie Says He Worked 100-Hr Weeks, Faced Bankruptcy While Building $1.3-Bn Robotics Unicorn
As the startup world continues to thrive, stories of entrepreneurs who have overcome incredible challenges to build successful companies are becoming more common. One such story is that of Jake Loosararian, the Co-founder of Gecko Robotics, a US-based company that has made a name for itself in the robotics industry. In a recent interview with CNBC Make It, Loosararian shared his story of how he worked 100-hour weeks and faced bankruptcy while building his startup, which is now worth a staggering $1.3 billion.
Loosararian’s journey began when he was still a college student. He started working on a project to develop robotic arms that could be used for inspection and maintenance purposes. The idea was born out of his own frustration with the limitations of traditional robotic arms, which were unable to navigate complex environments. He spent countless hours working on his project, often going without sleep or socializing to make it a reality.
Despite his passion and dedication, Loosararian faced numerous challenges as he turned his college project into a company. He told CNBC Make It that everyone around him, including his friends and family, thought he was crazy for pursuing his dream. “Everyone said, ‘Don’t f**king do it’,” he recalled. But Loosararian was undeterred, convinced that his idea had the potential to revolutionize the industry.
In 2013, Loosararian founded Gecko Robotics, and the company quickly gained traction. However, the early days were marked by financial struggles, with Loosararian working 100-hour weeks to keep the company afloat. He also faced the possibility of bankruptcy, a daunting prospect that many entrepreneurs would find overwhelming. Despite these challenges, Loosararian persevered, driven by his vision of creating a successful company.
In 2015, Loosararian even considered selling his business for $500,000, a significant amount of money at the time. However, he ultimately decided against it, opting to continue building his company. This decision proved to be a pivotal moment in Gecko Robotics’ history, as it allowed the company to continue growing and innovating.
Fast forward to today, and Gecko Robotics is a robotics unicorn, with a valuation of $1.3 billion. The company’s technology has been adopted by industries such as manufacturing, construction, and energy, and its robotic arms are used for a variety of applications, including inspection, maintenance, and repair.
Loosararian’s story is a testament to the power of perseverance and dedication. Despite facing numerous challenges and setbacks, he remained committed to his vision, and his hard work ultimately paid off. His story is a reminder that success is not always easy to achieve, but with the right mindset and determination, anything is possible.
In conclusion, Jake Loosararian’s story is an inspiring one, and his journey is a reminder that success is not solely dependent on talent or intelligence, but also on the ability to overcome obstacles and stay focused on one’s goals. As entrepreneurs and innovators, we can all learn a thing or two from Loosararian’s experiences, and his story is a powerful reminder of the importance of perseverance and dedication.
