RIP: Startup shutdown in March 2018

VR/AR startup Lytro announces it is shutting down – Lytro, the startup innovating in photography in Augmented/Virtual Reality segment announced a shut down.

Hyped-Up Litecoin Payment Startup LitePay Abruptly Shuts Down – Litecoin dropped over 10 percent following announcement, prompting Litecoin founder and Litecoin Foundation to issue apologies

Venture funded startup, MonkeyBox shuts down – The Bengaluru-based, MonkeyBox, that was trying to innovate in nutritious meal delivery for School kids announced it is shutting down. The co-founders Sanjay and Sandeep announced the shutdown on its website

Pet Care Startup Baroo Shuts Down–  This week, Baroo, a Boston-based pet care startup, announced it was shutting down operations. Based in Boston, Baroo had over 100-person staff, including 100 part-time pet handlers who provide building residents with $20 dog walks, $70-a-night pet-sitting, and grooming services that run  as high as $600. Founded in 2015, Baroo had raised $3.5 million in funding.

VR startup Upload shuts down – The VR startup, Upload, is shutting down both its San Francisco office and its Los Angeles co-working space as it struggles to secure new funding. Upload was rocked by sexual harassment lawsuit, and reports of ‘toxic work culture’ at the startup, which made it hard for it to raise additional funding.

DSW abandons and liquidates Ebuys – There are different reasons why startups succeed and fail. Many startups get acquired and begin to enhance the value of the acquiring firm.  A couple of years ago, the footwear and accessories retailer DSW announced it was acquiring Ebuys  for $62.5 million to enhance its eCommerce capabilities. On Tuesday, the retailer announced it was shuttering the Ebuys business.

GoBee Bike throws in the towel in France – Bike-sharing startup GoBee Bike is giving up and shutting down in all French cities where it operates. GoBee Bike operates just like Chinese giants Ofo and Mobike. You open the app, you find a bike on the map and you unlock it by scanning a QR code. Once you’re done, you lock it again and leave it there — there’s no dock.And yet, the startup is blaming vandalism and says that the service would stop immediately. It’s worth noting that users will get a refund on their remaining balances and €15 deposit. This is a nice gesture.

Ride-hailing startup Fasten announced shutdown – Fasten, a Boston, MA based Rideshare startup operating in Boston and Austin announced it was shutting down  after being acquired by Vezet Group, a ride-hail company in Russia. Terms of the deal were not disclosed. And the reason for the shutdown is not immediately clear though the announcement came after acquisition by the Russian company, and the co-founders are also of Russian origin., startup behind typography shutting down – Typecast, a browser-based app aimed to “take the pain out of designing typography for the web” announced in a tweet that it is shutting down. Typecast became a commercial product in 2013. According the to founders, the idea behind was based on the premise that the future of web design is a collection of small, niche tools. Typecast fulfilled a need: a browser-based app that takes the pain out of designing typography for the web.

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