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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Frankly

Messaging app for frank conversations

General Information
Category
Social Media
Country
India
Started
In 2014
Business Failure
Business Outcome
Shut Down
Closed
By 2016
Cause of Failure
Bad Market Fit
Founders & Employees
Number of Founders
Two
Name of Founders
Abhishek Gupta, Nikunj Jain
Number of Employees
Between 51 And 100
Funding
Number of Funding Rounds
1
Total Funding Amount
$600K
Number of Investors
1
Description

Frankly.me was a Q&A social platform which targeted Indian users in particular, where people could directly connect to public figures to ask them questions. Questions with the most upvotes had the most chance of being seen and replied to by celebrities. Famous people could publish a 90 seconds video on the platform (‘velfies’ or vlogs, as they were referred to) to give a response to popular posts addressed to them. Furthermore, anyone could sign up and share 90 sec videos with other users.

Cause of Failure

The first reason that was advanced for the shutting down of the platform after less than two years on the market was that it wasn’t able to raise the necessary round of funding.

However, Nikunj Jain, one of the CEO of Franlkly.me, wrote a post to specifically deny that funding had been the major issue. He attributed the failure of their platform to not being able “to achieve sustainable product market fit”. Jain went on to say that despite the widespread video consumption in the market, the video creation process seemed to be a challenge.

In fact, it might be unlikely that public figures could find the time to commit to using this specific platform to reply to their followers with vlogs for the long term, especially if there were other platforms that could connect them to an international audience.

Go on Reading

Delicious

Bookmarking website to save, organize and discover links

Productivity
Still Active
No Data
Acquisition Flu
Productivity
United States
In 2003
By 2017
One
Between 51 And 100
No Data
Acquisition Flu
Still Active
Netscape

Developed enterprise software solutions

Productivity
Shut Down
No Data
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Productivity
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Three
Between 5001 And 10000
No Data
Poor Product
Shut Down
Dinner Lab

Membership-based social dining experiment

Food and Beverage
Shut Down
$9.1M
Bad Business Model
Food and Beverage
United States
In 2011
By 2016
Three
Between 11 And 50
Between 1M 10M
Bad Business Model
Shut Down
Dopplr

Social travel network service

Travel
Shut Down
No Data
Acquisition Flu
Travel
United States
In 2007
Active
Five
Between 1 And 10
No Data
Acquisition Flu
Shut Down
Reach.ly

Analytics tool for e-Commerce sites

Analytics
Shut Down
€200K
Multiple Reasons
Analytics
Latvia
In 2011
By 2015
One
Between 1 And 10
Less Than 1M
Multiple Reasons
Shut Down
MySpace

Social network based on personal user pages

Social Media
Still Active
$37.8M
Multiple Reasons
Social Media
United States
In 2003
Active
Seven
Between 251 And 500
Between 10M 50M
Multiple Reasons
Still Active
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GrowthMentor

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

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

Bookafy

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Easy and affordable web hosting and domain services for entrepreneurs.

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