It is wise to consider every option before establishing a startup. The reason is due to the high rate of failed startups. But the high rate can also be viewed from a positive perspective which implies that people can learn from others’ failures.
A new entrepreneur will probably make mistakes, but it is not necessary to make the same errors that led to the failure of other startups. However, note that every failed startup is not a complete failure as they contributed somehow by making innovations that benefited other companies and people. This post evaluated different Silicon Valley businesses that failed to meet their expectations.
Munchery enables users to order food and delivered it straight to the customers’ doorstep. Despite its promising mission, this business couldn’t deliver on its promise and had to close down the operation. Munchery was founded by Van Tran, Tri Tran, and Conrad Chu in 2011 and shut down business operations in 2019.
Move Loot was a promising online resale platform for furniture. Founded by Shruti Shah, Ryan Smith, Karin Morrill, and Bill Bobbitt started operation in 2013 but didn’t last three years. The main reason for its failure was its poor plan of action. They chose to operate a substantial furniture stockroom without considering the expenses of running it.
Kyle Kirchhoff founded leap transit in 2013. The business focuses on private transport services and offered bus services with comfortable and eye-catching interiors. However, they folded up due to their failure to adhere to San Francisco regulations.
Secret was an iOS and Android app that enables users to post content anonymously. The app was launched in 2013 and founded by David Byttow and Chrys Bader-Wechseler. The leading cause of the app’s failure is due to the unpleasant and negative use of the app, thereby culminating in its shut down after only 18 months from its launch.
Juicero was founded by Doug Evans and had dreams of dominating the food and beverage industry. The company collected fresh organic vegetables and fruits for the customers, processed and packaged them in special single-serve packets. However, the company folded up in 2017 and failed to build a flourishing business.
Learn from the failures of these promising startups and ensure that you make an informed decision. Some of these failures may have been due to unresolved crisis management issues. These posts have compiled the information required to guide you in building a profitable startup brand.