Failed ventures October 2017 : RIP Startups that didn’t make it


Startups that failed in October 2017:

WHY DO STARTUPS FAIL? BECAUSE HARDWARE IS HARD – Wired – FEW VENTURE-CAPITAL INVESTORS have forgotten the story of Pebble: In 2012, after every VC firm on Sand Hill Road had passed on investing, the smartwatch startup raised more than $10 million on crowdfunding site Kickstarter. It was an unheard-of amount for a crowdfunding campaign, and the resulting hype made Pebble an internet sensation. Then the VCs, suffering from FOMO, begged Pebble to let them invest. The startup eventually raised a total of $59 million.

Venture based startup Yumist fails: It’s been a FABULOUS journey, but… In early October, Venture capital-backed meals ordering startup Yumist announced it was shutting shop with a blog post on its main page

 

Delivery business Jinn shuts down –  London based delivery startup Jinn announced that it is shutting down. Jinn started with technology platform that aims to brings together independent courier services providers with mobile customers provided by Ridee Ltd.

Chinese Power bank rental startup LeDian shuts down – LeDian announced on a WeChat blog that it was shutting down after retrieving all devices. Hyper competetion seems to be the reason for shutdown.

Failed Startup: Teforia, Internet of Things enabled tea-maker shuts down.

Atlas Informatics announces shutdown – Seattle based startup Atlas Informatics announced on its website that it was shutting down.The company had raised $20.7 million last year, and the reason for shutdown are unclear.


 

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