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.

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Formspring

Encouraged people to get to know

General Information
Category
Social Media
Country
United States
Started
In 2009
Business Failure
Business Outcome
Shut Down
Closed
By 2013
Cause of Failure
Legal Challenges
Founders & Employees
Number of Founders
Two
Name of Founders
Ade Olonoh, John Wechsler
Number of Employees
Between 11 And 50
Funding
Number of Funding Rounds
2
Total Funding Amount
$14.3M
Number of Investors
13
Description

Formspring was an anonymous Q&A forum. The platform saw a rapid growth on its launch: 1 million users in less than two months. It allowed people to anonymously ask questions and send messages to other users without having to sign up.

Cause of Failure

As with any other platform that gains its attraction for its anonymous features, Formspring’s users rushed in, but as the user base increased so did the problems that were associated with anonymity. Cyberbullying came to the level that several teen suicides were linked to the bullying that took place on the site.

The startup tried to remedy by collaborating with the MIT Lab to search for a way to discourage cyberbullying. Eventually, the site had to limit the anonymity feature but that meant that it would lose its appeal, users started decreasing and growth simply froze.

If success leaves clues, so does failure. Many platforms that focused solely on anonymous interactions had to pull out the plug because of the predictable type of behavior that people tend to have when they can’t or don’t have to be accountable for their actions, even when those actions directly endangered the psychological or physical well-being of another human being.

Go on Reading

Poppy

Childcare solution for modern families

Health
Shut Down
+$2M
Bad Business Model
Health
United States
In 2015
By 2018
Two
Between 1 And 10
Between 1M 10M
Bad Business Model
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
Springpad

Allowed users organize projects, ideas and to-do’s

Productivity
Acquired
$7.3M
Lack of Focus
Productivity
United States
In 2008
By 2014
One
Between 11 And 50
Between 1M 10M
Lack of Focus
Acquired
Rdio

Digital music service provider

Music
Bankruptcy
$125.7M
Competition
Music
United States
In 2008
By 2015
Three
Between 51 And 100
More Than 50M
Competition
Bankruptcy
SchoolGennie

Provide data to schools about their pain points

Education
Shut Down
-
Lack of Experience
Education
India
In 2013
By 2014
Two
Between 1 And 10
Nothing
Lack of Experience
Shut Down
Teforia

A tea brewer machine connected with an application

Food and Beverage
Shut Down
$17.1M
No Market Need
Food and Beverage
United States
In 2014
By 2017
Two
Between 11 And 50
Between 10M 50M
No Market Need
Shut Down
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GrowthMentor

Get 1-on-1 advice from vetted growth experts about your business.

Bookafy

Bookafy

Provide your clients and staff with a beautiful appointment booking experience.

Bookafy

HostGator

Easy and affordable web hosting and domain services for entrepreneurs.

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