☠️ 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.

Crowdmix

Music streaming and sharing platform

General Information
Category
Music
Country
United Kingdom
Started
In 2013
Business Failure
Business Outcome
Acquired
Closed
By 2016
Cause of Failure
Mismanagement of Funds
Founders & Employees
Number of Founders
Two
Name of Founders
Gareth Ingham, Ian Roberts
Number of Employees
Between 101 And 250
Funding
Number of Funding Rounds
1
Total Funding Amount
£14M
Number of Investors
No Data
Description

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.

Cause of Failure

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.

Go on Reading

Monitor110

Real-time internet monitoring services

Analytics
Shut Down
$17.3M
Multiple Reasons
Analytics
United States
In 2003
By 2008
One
Between 1 And 10
Between 10M 50M
Multiple Reasons
Shut Down
Frankly

Messaging app for frank conversations

Social Media
Shut Down
$600K
Bad Market Fit
Social Media
India
In 2014
By 2016
Two
Between 51 And 100
Less Than 1M
Bad Market Fit
Shut Down
Gowalla

Social Guide to world's cities

Social Media
Acquired
$10.4M
Competition
Social Media
United States
In 2007
By 2013
Two
Between 11 And 50
Between 10M 50M
Competition
Acquired
Maple

High-quality food delivery startup

Food and Beverage
Acquired
$29M
Bad Business Model
Food and Beverage
United States
In 2014
By 2017
Two
Between 101 And 250
Between 10M 50M
Bad Business Model
Acquired
37Coins

Startup that developed Bitcoin technologies

Finances
Shut Down
$525K
Lack of Funds
Finances
United States
In 2014
By 2015
Three
Between 1 And 10
Less Than 1M
Lack of Funds
Shut Down
QBotix

Solar panels attached and regulated by robots

Software and Hardware
Shut Down
$23.5M
Multiple Reasons
Software and Hardware
United States
In 2010
By 2015
One
Between 11 And 50
Between 10M 50M
Multiple Reasons
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.