☠️ 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.

HiGear

Private car-sharing club for luxury and sports cars

General Information
Category
Transportation
Country
United States
Started
In 2011
Business Failure
Business Outcome
Acquired
Closed
By 2011
Cause of Failure
Legal Challenges
Founders & Employees
Number of Founders
Two
Name of Founders
Ali Moiz, Murtaza Hussain
Number of Employees
Between 1 And 10
Funding
Number of Funding Rounds
2
Total Funding Amount
$1.3M
Number of Investors
4
Description

HiGear was a San Francisco peer-to-peer online company that listed luxury cars for rent. Registered users could lease a luxury car for a determined amount of time after going through background checks and paying security deposits.

Cause of Failure

HiGear had started operations at a high note and instituted many controls to ensure smooth operations. Despite such elaborate controls, the company was forced to shut down for various reasons. The main reason that HiGear lists as having prompted them to stop the business was when a criminal gang stole four cars that had a combined worth of $400,000. The criminals succeeded in the scheme by using stolen identities to evade the company's background check controls. In an email to its customers, HiGear stated that it had the duty to protect its customers and that it opted to shut down operations until they were able to put in place proper countermeasures. HiGear was acquired but Rent4Buy in 2012.

Go on Reading

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
Rafter

Textbook and course material provider for schools

Education
Acquired
$86M
Competition
Education
United States
In 2006
By 2016
One
Between 51 And 100
More Than 50M
Competition
Acquired
Sidecar

Provided B2B delivery transportation network

Transportation
Acquired
$45.5M
Competition
Transportation
United States
In 2011
By 2015
Two
Between 51 And 100
Between 10M 50M
Competition
Acquired
Stereomood

Music platform that provided mood-based song listings

Music
Acquired
No Data
Acquisition Flu
Music
Italy
In 2009
By 2015
Four
Between 11 And 50
No Data
Acquisition Flu
Acquired
HitMeUp

Developed mobile marketing applications

e-Commerce
Shut Down
£50K
Lack of Experience
e-Commerce
United Kingdom
In 2011
By 2015
One
Between 1 And 10
Less Than 1M
Lack of Experience
Shut Down
Circa

Mobile news app on diverse topics

Productivity
Acquired
$4.7M
Multiple Reasons
Productivity
United States
In 2011
By 2015
Three
Between 11 And 50
Between 1M 10M
Multiple Reasons
Acquired
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.