34% of startups fail due to lack of product-market fit. Learn how to avoid it for only $15!

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

Mailbox

Inbox that made email light, fast, and mobile-friendly.

Productivity
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$5M
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CircleBack Lending

A P2P marketplace for online lending

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$12M
Bad Business Model
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Two
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Bad Business Model
Shut Down
Transpose

Smart workspace for businesses to manage projects

Productivity
Shut Down
$1.5M
Bad Business Model
Productivity
United States
In 2015
By 2015
Four
Between 11 And 50
Between 1M 10M
Bad Business Model
Shut Down
Radar Radio

UK digital radio station

Entertainment
Shut Down
-
Mismanagement of Funds
Entertainment
United Kingdom
In 2008
By 2018
One
Between 11 And 50
Nothing
Mismanagement of Funds
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
Formspring

Encouraged people to get to know

Social Media
Shut Down
$14.3M
Legal Challenges
Social Media
United States
In 2009
By 2013
Two
Between 11 And 50
Between 10M 50M
Legal Challenges
Shut Down
This is Brought to You by:
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NoGood

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NerdPilots

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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.

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