☠️ 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.
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.
Music streaming and sharing platform
Crowdmix was to be a music streaming and sharing platform on which people could listen and talk about their favorite bands. The company released a beta invite-only version of the app for DJ and musicians. The official app was never released.
Crowdmix extravagantly spent £14 millions of their investors’ money long before realizing a working product to the public.
The company spent lavishly on parties, flamboyant decorations for its offices and international travel for its staff. No one had a clear vision of the product, and founders kept adding features even before having a consolidated trial version. Moreover, Crowdmix lacked a clear HR policy. This led to overstaffing and consequently contributing to the high running costs, with people being hired to ‘raise the company profile’ rather than because they actually provided a service for the company.
The founding CEO was reportedly forced to leave the company, which was left without any other investor willing to back it up and filed for bankruptcy.
Real-time internet monitoring services
Messaging app for frank conversations
Social Guide to world's cities
High-quality food delivery startup
Startup that developed Bitcoin technologies
Solar panels attached and regulated by robots