Founding friends bring trust and synergy to successful startups.

James Cash Penney, an iconic American entrepreneur, once famously said, “Every great business is built on friendship.” This timeless wisdom continues to hold true in today's entrepreneurship landscape, where launching a venture with friends isn't just sentimental—it's strategic. Research indicates that close relationships are a common denominator in many startups, with software company Xero noting that eight out of ten startups have founders with personal ties.

Starting a business with friends has its own challenges, yet it unlocks a dynamic that can thrust the business to stratospheric success. A friendship foundation offers a level of trust and rapport seldom found in typical workplaces, laying a strong foundation for collaboration and decision-making.

Yet, it's crucial to understand that profitability isn't the sole measure of success—it's also about fulfillment and the journey undertaken. Building a venture with a trusted friend can amplify this journey's rewards, fostering a sense of shared accomplishment and mutual growth. In this article, we spotlight success stories of startups that have interwoven friendship into their business model, demonstrating that camaraderie can indeed translate into commercial victories. 

Ben & Jerry's: A flavorful friendship

Ben Cohen (left) and Jerry Greenfield, the childhood friends who became the co-founders of the iconic ice cream empire, Ben & Jerry's. - Image courtesy of Ben & Jerry's 

Ben Cohen and Jerry Greenfield, childhood friends turned business partners, created a brand that's synonymous with creative ice cream flavors and a dedication to social and environmental causes. Their story is one of the most successful startup founders cases where friendship and business combined to create an iconic brand.

Cohen and Greenfield first met in seventh-grade gym class, where they bonded over being the “slowest runners” and later journeyed through divergent paths—Jerry's unfulfilled medical school aspirations and Ben's unprofitable pottery venture—only to converge again in New York.

Realizing the ice cream scene in the city was saturated, they took a chance on Vermont. In 1978, they opened their first scoop shop in Burlington, which quickly became a hit, racking up sales of over US$4 million by 1984. Global consumer products giant Unilever eventually acquired Ben & Jerry's in 2000 for a whopping US$326 million, a testament to the enduring power of their partnership.

Cohen credits their enduring business relationship to their solid friendship, which has helped them navigate through tough times and avoid major conflicts. “We chose to make our friendship the most important thing. The way we worked, whoever felt the most strongly about it got their way,” Cohen told Entrepreneur. He advises that building a business on the bedrock of a tried-and-true friendship sets a strong foundation for a prosperous partnership.

TheSkimm: From roommates to newsmakers

Danielle Weisberg and Carly Zakin, co-Founders of theSkimm. 

Image courtesy of TechCrunch

Danielle Weisberg and Carly Zakin, a dynamic duo who honed their journalistic skills at NBC News, transformed their friendship and professional prowess into a digital media powerhouse, TheSkimm, targeting millennial women. 

Their story began in Rome, where they first crossed paths as university students studying abroad. After that, their paths intertwined again on several occasions, and they eventually became friends and roommates. In 2012, their relationship evolved into a business partnership. They co-founded TheSkimm with a core mission to simplify and deliver the day's top news in easily digestible, conversational tidbits through its daily email newsletter “The Daily Skimm”. 

Thanks to Weisberg and Zakin's journalism expertise, TheSkimm has evolved into a widely acclaimed digital media enterprise. Beyond its flagship newsletter, the company has branched into podcasts, video series, books and even e-commerce. 

Weisberg and Zakin cherish their partnership as a foundational pillar of their business, likening it to running a family business. In an interview with Entrepreneur, Weisberg describes how the partnership flourishes on mutual understanding and shared life experiences, providing a bedrock of support, especially during challenging times. They maintain a clear boundary between their personal and professional lives, nurturing both their friendship and their business.

This harmonious blend of friendship and professionalism, anchored by shared values, has been a cornerstone of their success, with TheSkimm reaching a remarkable milestone of 12 million subscribers, affectionately referred to as “Skimmers”, in 2022.

Whop: Nurturing a digital marketplace with friendship

A screenshot of Whop, an online marketplace founded by Steven Schwartz, Cameron Zoub and Jack Sharkey.

The inception of Whop, an innovative online marketplace, embodies the union of friendship and entrepreneurship. Launched in 2021 by Steven Schwartz, Cameron Zoub and Jack Sharkey, Whop emerged as a response to the growing demands of the internet economy, curating a diverse array of digital products from travel deals to lifestyle gems and self-improvement resources.

The entrepreneurial journey of Whop started when Zoub and Schwartz, two 13-year-olds in a Facebook group for sneaker enthusiasts, embarked on a venture, Sole Sniper, specializing in sneaker bots (i.e. software applications designed to purchase limited-edition shoes at a speed that surpasses human capabilities). The story evolved as Schwartz, immersed in the corporate ambiance of Accenture in Singapore, garnered insights into the rising tide of IT demands, catalyzing a business epiphany—the inception of an IT agency conceived in collaboration with Zoub.

Later, their entrepreneurial spark drew in Sharkey, a software developer, to elevate their vision. Together, they launched a makeshift marketplace where people could buy and sell software for free, only to have it overrun by scammers. The trio rebounded and started to work on an improved marketplace, ultimately becoming Whop. The startup now boasts 25 people and hosts around 3,000 sellers. Since its launch, it has facilitated more than two million transactions.

Balancing bond and expertise

The entrepreneurial journey tales of Ben & Jerry's, TheSkimm and Whop not only serve as inspiring entrepreneurship success stories but also underscore the impact of starting a business with friends on long-term success. These narratives underscore that trust and personal bonds, paired with relentless innovation and evolution, are at the heart of the entrepreneurial spirit.

While the personal bond is invaluable, friendship alone doesn't seal the deal. A successful business is also the product of blending friendship with complementary skills, the ability to adapt and a dedication to continuous innovation. Together, these elements form the cornerstone of a startup's legacy, turning fleeting ideas into timeless institutions.