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.
Mobile app to order drinks on nightclubs
Flowtab was a mobile app that wanted to use technology to solve the problem of long queues in bars and hospitality venues. Flowtab created an app that would show users a list of drinks they could order from their mobiles without having to wait for the bartender to take their order. The app was connected to the bar's iPad which would then sync the orders to the POS terminal of the bar and payments would be are sent to the bar's bank account.
Flowtab tried various business model but could never found one that was both feasible and profitable. On paper, any bar would have wanted to use such an application. In reality, it proved quite hard for the company to get deals. This type of service requires a large number of users to be profitable since they only charged the customer $1 after they successfully placed an order. However, users don't usually stick to the same bars but would often choose a different one from week to week, and most users only used the app once or twice per month. Things could have still worked out, but when, in a promotional event they invited about hundred people to various clubs, their technology failed them and the founders resorted to serving drinks themselves to angry customers. This caused many people to leave one-star ratings for the app further thinning the chances of the app success.
Since their founding was limited they were also understaffed and a very small team had to take care of everything. After a couple more pivots and some members of the team leaving to pursue other goals, Flowtab finally decided to shut doors.
Online gift-giving service
Robot that washes, dries and irons clothes
Cryptocurrency exchange platform
Web-based tuition services
Provided social media management tools
Mobile news app on diverse topics