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.

PostRocket

Facebook page marketing platform

General Information
Category
Analytics
Country
United States
Started
In 2010
Business Failure
Business Outcome
Shut Down
Closed
By 2013
Cause of Failure
Poor Product
Founders & Employees
Number of Founders
Two
Name of Founders
Murry Ivanoff, Tim Chae
Number of Employees
Between 1 And 10
Funding
Number of Funding Rounds
2
Total Funding Amount
$610K
Number of Investors
7
Description

PostRocket was a Facebook marketing platform, co-founded in October 2010. The company products and services were concentrated on marketers that needed a higher quality and more wide-ranging engagement on their Facebook pages so as to increase their sales. PostRocket had the goal of creating awareness by posting more engaging and friendly posts through the use of an algorithm that sorted out what the most effective posts for targeted users were. PostRocket helped FB page owners get custom content recommendations tailored to their specific customer base. Page owners could get Insights from their own panel which would help them optimize their post for type, frequency, content, and timing.

Cause of Failure

After three years of operations, Post Rocket closed down in August 2013. The CEO of the company, Timothy Chae, reported to its customers through an email some of the main reasons for the closure.

First, Chae admitted that the company had set for itself unrealistic goals, which were hard to strategize and they achieve most of them. Their product was unreliable and they were not able to quickly expand also due to how the landscape of Facebook marketing changed. Many technical issues like bugs and periods of downtime affected the quality of their service and they were not able to get rid of them since they also had to keep up with the frequent changes on the FB platform.

Most importantly, FB itself rolled out in that period it's own Insights service which any Page owner could use for free to learn about their audience, receive detailed statistic and receive optimization suggestion. Chae actually encouraged his then customers to use FB Insights in his shutdown announcement email.

Go on Reading

ChaCha

Search engine with a live human being

Software and Hardware
Shut Down
$96M
Competition
Software and Hardware
United States
In 2005
By 2016
Two
Between 51 And 100
More Than 50M
Competition
Shut Down
Salorix

Online social network engagement platform

Analytics
Shut Down
$3.5M
Bad Management
Analytics
United States
In 2009
By 2014
One
Between 11 And 50
Between 1M 10M
Bad Management
Shut Down
Koinex

Cryptocurrency exchange platform

Finances
Shut Down
-
Legal Challenges
Finances
India
In 2017
By 2019
Three
Between 51 And 100
No Data
Legal Challenges
Shut Down
RoomsTonite

Las-minute hotel booking provider

Travel
Bankruptcy
$1.5M
Lack of Funds
Travel
India
In 2014
By 2017
One
Between 101 And 250
Between 1M 10M
Lack of Funds
Bankruptcy
Wattage

Online platform that made creating hardware easy

Software and Hardware
Shut Down
$200K
No Market Need
Software and Hardware
Canada
In 2014
By 2015
Three
Between 51 And 100
Less Than 1M
No Market Need
Shut Down
HiGear

Private car-sharing club for luxury and sports cars

Transportation
Acquired
$1.3M
Legal Challenges
Transportation
United States
In 2011
By 2011
Two
Between 1 And 10
Between 1M 10M
Legal Challenges
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.