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

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:
Headway

We help startups launch new digital products through product strategy, design, and development.

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.

Sharingear

Marketplace for musicians to rent their instruments

General Information
Category
Music
Country
Denmark
Started
In 2014
Business Failure
Business Outcome
Shut Down
Closed
By 2015
Cause of Failure
Multiple Reasons
Founders & Employees
Number of Founders
One
Name of Founders
Mircea Gabriel Eftemie
Number of Employees
Between 1 And 10
Funding
Number of Funding Rounds
1
Total Funding Amount
€15K
Number of Investors
2
Description

Sharinger was a peer to peer musical gear sharing platform for independent musicians and touring bands. The startup’s founder, who had a decade of experience in the touring business, experienced first hand how the logistics of touring can be challenging, especially for small musicians. Sharingear's hoped to make touring more affordable and accessible. Users could create a profile and post the musical instruments or gears they had for free so that others could buy it or rent it.

Cause of Failure

One of the fundamental reasons the company’s CEO for the failure of his company was that he focused on a market that was too small, and since they only charged a small commision per transaction, the business model set was not sustainable and would not cover for operations costs. Second, there was lack of a good product-market fit. Musicians might have told the founder that Sharingear was a great and functional product but cash-strapped musicians might resort to opting for the most economical arrangement, even if it’s not the most convenient. Furthermore, there is to factor in that musical instrument and gear are very delicate and although the company insured every rented instrument, some people might feel reluctant to rent their own instrument or take someone else’s for fear of somehow damaging it. There’s also the fact that musicians usually develop a preference to their own playing gear and performing with a rented one might have required some getting used to.

Sharingear, running out of budget and with fleeting employees, was not able to adapt and pivot soon enough and closed in late 2015.

Go on Reading

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
Zulily

Online retailer that offered daily deals

e-Commerce
Shut Down
$194.6M
Bad Marketing
e-Commerce
United States
In 2009
Active
Two
Between 1001 And 5000
More Than 50M
Bad Marketing
Shut Down
Picasa

Photo management and editing software

Software and Hardware
Shut Down
-
Multiple Reasons
Software and Hardware
United States
In 2002
By 2016
One
More Than 10000
Nothing
Multiple Reasons
Shut Down
Crowdmix

Music streaming and sharing platform

Music
Acquired
£14M
Mismanagement of Funds
Music
United Kingdom
In 2013
By 2016
Two
Between 101 And 250
Between 10M 50M
Mismanagement of Funds
Acquired
Friendster

Social gaming site focused on entertainment

Social Media
Shut Down
$48.5M
Bad Market Fit
Social Media
Philippines
In 2001
By 2015
One
Between 11 And 50
Between 10M 50M
Bad Market Fit
Shut Down
Sharingear

Marketplace for musicians to rent their instruments

Music
Shut Down
€15K
Multiple Reasons
Music
Denmark
In 2014
By 2015
One
Between 1 And 10
Less Than 1M
Multiple Reasons
Shut Down
This is Brought to You by:
Headway
Headway

We help startups launch new digital products through product strategy, design, and development.

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.