☠️ 30%+ of startups fail due to lack of product-market fit. In this eBook, you'll learn how to avoid it. Only $10 for a limited time.

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.

This is Brought to You by:
Acadium

Acadium

120 hours of digital marketing from a remote apprentice for only $299 (+ $50 off!)

NerdPilots

NerdPilots

Get fast, reliable web, mobile and software development help 24/7.

This could be your AD. Sponsor Startup Cemetery to reach +10,000 entrepreneurs.

Subscribe to Our Newsletter!

Invite us into your inbox and get immense learning and 80+ deals on tools to help you scale your startup (worth up to $50,000)!

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Argyle Social

Provided social media management tools

General Information
Category
Marketing
Country
United States
Started
In 2010
Business Failure
Business Outcome
Shut Down
Closed
By 2014
Cause of Failure
Competition
Founders & Employees
Number of Founders
One
Name of Founders
Adam Covati
Number of Employees
Between 11 And 50
Funding
Number of Funding Rounds
2
Total Funding Amount
$1.6M
Number of Investors
2
Description

The Argyle Social was a Social media marketing tool. The company provided an easy to use, highly interactive platform for marketers to specifically improve their customers’ social media platform engagement and lead generation. Argyle was considered as having one of the best price-points in the market at some point. Widely praised for their intuitive dashboard and highly effective scheduling capabilities, Argyle had been for a period one of the most sought-after programs for many internet marketers.

Cause of Failure

Adam Covati, the former CEO and founder of Argyle Social, tried to stand out from their competitors by allowing their software to be integrated into various social media marketing automation software including Pardot and Marketo. This additional design Argyle Social has is really useful for marketers, but still, the bulk and massive marketing efforts of their competitors, unfortunately, drowned out that value.

The funds were never enough to keep the software in the market, not to mention that the company still had to pay its employees.

Leading social media platforms such as Facebook and Twitter change their APIs every time, for the Argyle Social to work, Covati and his team needed to keep up with those changes as well, and that was a huge struggle for them. They had talent and skill but lacked the appropriate number of employees needed to accomplish such task. The company’s lack of employees came about from their first issue, which is not having enough funds. Without the appropriate funds, it was impossible for Argyle to keep their services in the market. Adam Covati said that he tried numerous times to find a willing business partner to keep the company alive, but no company or individual ever found Argyle to be “profit wise”.

Go on Reading

Wantful

Online gift-giving service

e-Commerce
Shut Down
$5.5M
Competition
e-Commerce
United States
In 2011
By 2013
One
More Than 10000
Between 1M 10M
Competition
Shut Down
Moped

Free messaging application

Social Media
Acquired
$1M
No Market Need
Social Media
Germany
In 1998
By 2014
One
Between 11 And 50
Between 1M 10M
No Market Need
Acquired
BitPass

Online payment system for digital content

Finances
Shut Down
$13.3M
Competition
Finances
United States
In 2002
By 2007
One
Between 51 And 100
Between 10M 50M
Competition
Shut Down
Selltag

Platform for people to sell and buy items

e-Commerce
Shut Down
€325K
Failure To Pivot
e-Commerce
Spain
In 2014
By 2015
Four
Between 11 And 50
Less Than 1M
Failure To Pivot
Shut Down
Theranos

Consumer healthcare technology company

Health
Shut Down
$1.4B
Legal Challenges
Health
United States
In 2003
By 2018
One
Between 11 And 50
More Than 50M
Legal Challenges
Shut Down
Netscape

Developed enterprise software solutions

Productivity
Shut Down
No Data
Poor Product
Productivity
United States
In 1994
By 2008
Three
Between 5001 And 10000
No Data
Poor Product
Shut Down
This is Brought to You by:
NerdPilots

NerdPilots

Get fast, reliable web, mobile and software development help 24/7.

Acadium

Acadium

120 hours of digital marketing from a remote apprentice for only $299 (+ $50 off!).

This could be your AD. Sponsor Startup Cemetery to reach +10,000 entrepreneurs.

Subscribe to Our Newsletter!

Invite us into your inbox and get immense learning and 80+ deals on tools to help you scale your startup (worth up to $50,000)!

Your subscription could not be saved. Please try again.
Your subscription has been successful.