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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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Monitor110

Real-time internet monitoring services

General Information
Category
Analytics
Country
United States
Started
In 2003
Business Failure
Business Outcome
Shut Down
Closed
By 2008
Cause of Failure
Multiple Reasons
Founders & Employees
Number of Founders
One
Name of Founders
Roger Ehrenberg
Number of Employees
Between 1 And 10
Funding
Number of Funding Rounds
3
Total Funding Amount
$17.3M
Number of Investors
4
Description

Monitor 110 was an information and data gathering service that offered real-time internet monitoring services for Wall Street. It allowed investors to monitor internet sources for information and insight relevant to their investment and portfolio management. Their algorithm allowed customers to gather data and monitor 40 million online sources so as to get first knowledge of any new trend by essentially ‘listening in’ to online conversations and blogs that included keywords related to the financial market.

Cause of Failure

Monitor 110 closed down its operations in July 2008 due to various reasons.

First, there wasn’t a clear leadership at the top levels. Monitor110 was directed by two people that had completely different backgrounds - which per se is not a bad thing - but that also had different perspectives when it came to decision making. The company also waited too much before releasing their product also due to the fact that they received substantial publicity (for example, they were featured by the Financial Times) before they had a thoroughly tested release. This got people’s expectation high and made the company reluctant to release a less than perfect product. The fact that they received $17 million might have also been counterproductive for them, as instead of building a lean beta version they kept developing the product in a vacuum based on their vision for it rather than receiving valuable feedback from customers. A technical problem they also faced was related to the amount of spam and duplicate posts that the algorithm was picking up on, it was too much and it could have diminished the value of the platform. When they finally decided on a suitable business pivot after months of indecisiveness, the company had already started running out of money and there was an unpleasant tension between the company team. The company lost also the edge they could have had in such a competitive market as theirs and decided to shut their operations in 2008.

Go on Reading

Kno

Education software startup

Education
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$94.9M
Competition
Education
United States
In 2009
By 2013
Two
More Than 10000
More Than 50M
Competition
Acquired
Frankly

Messaging app for frank conversations

Social Media
Shut Down
$600K
Bad Market Fit
Social Media
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In 2014
By 2016
Two
Between 51 And 100
Less Than 1M
Bad Market Fit
Shut Down
Flowtab

Mobile app to order drinks on nightclubs

Food and Beverage
Shut Down
-
Bad Business Model
Food and Beverage
United States
In 2011
By 2013
One
Between 51 And 100
Nothing
Bad Business Model
Shut Down
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
Shipitwise

SaaS software for transportation companies

Transportation
Acquired
€419.4K
No Market Need
Transportation
Estonia
In 2016
By 2019
Five
Between 1 And 10
Less Than 1M
No Market Need
Acquired
DotCloud

Enabled developers to host, assemble and run their applications

Software and Hardware
Bankruptcy
$13.7M
Mismanagement of Funds
Software and Hardware
United States
In 2008
By 2016
One
Between 251 And 500
Between 10M 50M
Mismanagement of Funds
Bankruptcy
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)!

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