Introduced major feature changes without telling users or properly validating
Couldn't find the market, scaled to fast without proper validation. After raising $125 million they closed their doors.
Had traction but couldn't get investors interested due to direct competition from facebook
Robinhood successfully launched and more successfully failed with their last feature: Saving & Checking accounts. Apparently, they didn't do all their homework so the innovative solution they brought to market was not realistic. They have since backtracked, trying to save face, and have talked about launching the feature again at a future date.
Never found a sustainable business model that justified the considerable expense of running their site
Focused on customer acquisition and ignored growing churn and the market ceiling
Had too few managers from the fashion industry and too many from the technology.
Many people will tell you that they will become paying customers if you build this feature or that feature.
Even if you build it, 9 times out of 10, that person won't become a paying customer, and you just spent a lot of time and energy building something that nobody uses.
Be careful when talking to non-paying users.
Focused on vanity metrics instead of fundamentals like cash flow and working capital.
Became unable to service its debt, sold some assets, not enough to sufficiently cover obligations
Too much direct competition with a company that was great at what they did
Their specialized juice bags didn't need the $400 juicers. They could be hand squeezed thus making the juicers totally useless.
The company had lost $81 million in the 2016 financial year with revenue of just $1.2 million
Setting price point out of range. Kuvee sold a $178 wine bottle that connected to Wi-Fi, raised $6 million, and is now shut down
Shuts Down as competitors raised hundreds of millions to capture marketshare
Placed all bets on an extensive collaboration which resulted in shutting down the company.
Started a new B2C product & company with a client based on client's existing business. The plan was to create neat little metal greeting cards that every Pinterest fan must have. Our team would handle "all the web stuff", his team would handle "all the production stuff". Prototype = success! Site = launched! Orders = flowing! One snag: metal cards are really sharp when mass cut, ouch! Idea = fail.
The business model didn't work when trying to scale
Trade violations, founders and board members were accused of illegally bidding on auctions breaking the law.
Core product feature became antiquated and customers no longer needed a standalone tool.
Had a better product experience however could not find get the community behind it
Instead of building a great and very simple MVP, created an unstable product with too many features
Despite initial success, the business did not scale sufficiently enough to be sustainable and in a challenging economic environment for this type of business it shut down
Couldn't raise dollars and bills piled up on the business and in the founders personal lives forcing the company to shut down
Had too high of a monthly burn rate. At one point they were spending close to $7m a month. Was completely unsustainablee
I always wish to build all-in-one product with tools I would love to have.
User said they love idea but use no single one features.
It 's time to review which is best one to focus.
When we split the apps back at Foursquare into Foursquare City Guide and Swarm, we made a huge mistake in launching Swarm before Foursquare City Guide was ready based on the imagined schedule for its completion. Because of that we both wound up with half of a major redesign launched for 3 months before the other half caught up, but we also burned out a ton of employees by pushing them really hard over the summer to finish the City Guide half of things
So I launched without building any sort of story, and I launched right before midnight on Product Hunt so my product didn't even appear on the next day's list of products. I also didn't promote it much, if at all. Just on slack channels I am a part of.
Big Board, Young Team, Mindless Management -- When you have an overly experienced board, and a technically talented young team who don't see eye to eye, you do not fix it by bringing in an ex-accountant to be COO / Manager, especially if they no idea about startups or tech.
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