UiPath – the story of the Romanian Unicorn

Tekpon Author - Ana-Maria Stanciuc

Even though it looks like a pattern, it turned out that great ideas can fit in an apartment, and you don’t need a big team to build something great. The most successful businesses nowadays have a similar story behind like: “Once upon a time, there were a few people in a small apartment dreaming of building something that could help people and bring value to society.” We know it may sound cliché, but it is the absolute truth behind a successful company or product.

The company that inspired us to write this is UiPath – the Romanian unicorn that turned out to be of real value to society. UiPath is one of the businesses with a story built on trial and error, and the team behind it had made multiple errors on their way to success. Nobody will tell you what you are doing wrong in this industry but the market and its users.

When the market validates your product as a good one, from that point, the only road you go is to the top. And on top means you get to evaluate your company as much as you consider. Now the company was valued at $35 billion during a funding round earlier this year.

UiPath – RPA business

UiPath is a company that aims to help companies and their people automate their processes with the help of different products. They’ve wanted to free people to automate their repetitive tasks by using AI and let them focus on the essential things. Moreover, at a business level, they want to build the best RPA software on the market. And when the product is good, and people validate it and consume it, what’s coming next is only natural.

The element that makes this company even more remarkable is that it comes from a country with no entrepreneurship tradition. So, from a Romanian start-up that began with ten people in a flat, there is now a global path where people and companies worldwide can enjoy their products.

Like a larva that metamorphoses into a butterfly, UiPath now has big dreams, like every human, to have a robot doing the grunt work. And these are not only some metaphors that explain what a company does but a true story about how some people can dream big and add value to the society they live in.

The first Romanian Unicorn listed on Wall Street

Yet the most exciting aspect is that they’ve made some history for Romania as the first company listed on Wall Street. After the first round of transactions, the UiPath value is $37,7 billion, meaning people are interested in its products. This pandemic has changed how people consume technology and software products, and the digital environment has suffered some changes during this time. This fact has increased interest in them.

As we are saying – helping others is our legacy – a successful business brings value to society and gives something back. A good product validated by the market and people’s needs will sell on its own. But for all this, you don’t need just money and investors; you need people, a good team, and a better leader who will accept failures as success. And probably this was the secret of the Romanian unicorn – UiPath.