Admazely failure

Admazely

Easy-to-setup retargeting for web shops

Description

Admazely was a Copenhagen based startup that offered simple to set up retargeting tools for web shops. Its objective was to give technological advertising solution for online businesses to effectively re-engage website visitors who that go through with the offerings purchase.

Stats

Category
Marketing
Country
Denmark
Started
In 2011
Closed
By 2013
Number of Founders
Four
Name of Founders
David Björklund, Peter Vilsholm Therkildsen, Sylwia Erhardt-Bednarska, Søren Holbech Nielsen
Number of Employees
Between 1 And 10
Number of Funding Rounds
1
Total Funding Amount
$600K
Number of Investors
3
Precise Cause of Failure
Lack of Funds
Business Outcome
Bankruptcy

Cause of Failure

Admazely shut down in May 2013 on the grounds that it ran short on financing and didn't figure out how to secure more cash.

Besides funding, an additional problem appeared when several people had to leave the company. One of the co-founders decided to leave the company to relocate with his partner. Admazely also lost two key English-speaking sales people that till then had been very successful in driving sales from the UK market. With low cash supply, the loss of crucial people in his team and a high burning rate, Admazely decided to file for bankruptcy within a year of its launch.

Go on Reading

Other Startups

LuckyUnicorn t-Shirts
We've just launched 20 limited edition Failory t-shirts. Click here to buy one!

Startup Cemetery

A big resource for entrepreneurs and startup owners, in which we have collected and analyzed why +100 big companies have failed. Learn from mistakes, and avoid being part of the 90% of businesses that fail.

Admazely

Easy-to-setup retargeting for web shops

General Information
Category
Marketing
Country
Denmark
Started
In 2011
Business Failure
Business Outcome
Bankruptcy
Closed
By 2013
Cause of Failure
Lack of Funds
Founders & Employees
Number of Founders
Four
Name of Founders
David Björklund, Peter Vilsholm Therkildsen, Sylwia Erhardt-Bednarska, Søren Holbech Nielsen
Number of Employees
Between 1 And 10
Funding
Number of Funding Rounds
1
Total Funding Amount
$600K
Number of Investors
3
Description

Admazely was a Copenhagen based startup that offered simple to set up retargeting tools for web shops. Its objective was to give technological advertising solution for online businesses to effectively re-engage website visitors who that go through with the offerings purchase.

Cause of Failure

Admazely shut down in May 2013 on the grounds that it ran short on financing and didn't figure out how to secure more cash.

Besides funding, an additional problem appeared when several people had to leave the company. One of the co-founders decided to leave the company to relocate with his partner. Admazely also lost two key English-speaking sales people that till then had been very successful in driving sales from the UK market. With low cash supply, the loss of crucial people in his team and a high burning rate, Admazely decided to file for bankruptcy within a year of its launch.

Go on Reading

Fuhu

Designer and seller of cloud-served softwares

Software and Hardware
Acquired
$66.2M
Mismanagement of Funds
Software and Hardware
United States
In 2006
By 2015
Three
Between 501 And 1000
More Than 50M
Mismanagement of Funds
Acquired
SpoonRocket

Next-gen, ultra-fast delivery platform

Food and Beverage
Shut Down
$13.5M
Competition
Food and Beverage
United States
In 2013
By 2016
Two
Between 11 And 50
Between 10M 50M
Competition
Shut Down
Appiterate

Mobile marketing automation platform

Marketing
Acquired
$500K
Acquisition Flu
Marketing
United States
In 2013
By 2015
Four
Between 1 And 10
Less Than 1M
Acquisition Flu
Acquired
Argyle Social

Provided social media management tools

Marketing
Shut Down
$1.6M
Competition
Marketing
United States
In 2010
By 2014
One
Between 11 And 50
Between 1M 10M
Competition
Shut Down
HitMeUp

Developed mobile marketing applications

e-Commerce
Shut Down
£50K
Lack of Experience
e-Commerce
United Kingdom
In 2011
By 2015
One
Between 1 And 10
Less Than 1M
Lack of Experience
Shut Down
Dinnr

Ingredients and recipe to create meals at home

Food and Beverage
Shut Down
£60K
No Market Need
Food and Beverage
United Kingdom
In 2012
By 2014
Two
Between 1 And 10
Less Than 1M
No Market Need
Shut Down