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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Skully

Augmented reality motorcycle helmets

General Information
Category
Transportation
Country
United States
Started
In 2013
Business Failure
Business Outcome
Shut Down
Closed
By 2016
Cause of Failure
Mismanagement of Funds
Founders & Employees
Number of Founders
One
Name of Founders
Marcus Weller, Mitch Weller
Number of Employees
Between 11 And 50
Funding
Number of Funding Rounds
4
Total Funding Amount
$15M
Number of Investors
13
Description

Skully is a helmet trademark which targets motorcycle riders. News of the helmet generated considerable buzz as the company promised that their helmed would be the first Augmented Reality (AR) product of its industry offering unique technological features. The helmet comes with a rear facing camera and a heads-up display that can also be used to check contacts names and music streaming. The Skully helmet was to supposedly be the safest in the world since it offered a ‘360° experience’ with its 180° blindspot camera. Riders could also avail of the hands-free voice calling and texting feature during their commutes.

Cause of Failure

According to Skully spokespeople they had to close shops due to limited fundings. They were reportedly not able to sum an additional round of funding to complete the production of the $2000 pre-ordered helmets that about 3000 people were looking forward to receiving. They filed for bankruptcy in 2016 but their product and assets were acquired in 2017 by what has been branded SKULLY Technologies, a new company that says to have no affiliation to the previous company (nor any obligations it might have to its clients) despite the fact that the two acquirers are the cousins of the previous Skully CEOs.

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Appiterate

Mobile marketing automation platform

Marketing
Acquired
$500K
Acquisition Flu
Marketing
United States
In 2013
By 2015
Four
Between 1 And 10
Less Than 1M
Acquisition Flu
Acquired
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
Brisk

Built tools for sales organizations

Marketing
Shut Down
$137K
Lack of Focus
Marketing
Sweden
In 2012
By 2016
Four
Between 11 And 50
Less Than 1M
Lack of Focus
Shut Down
Fuhu

Designer and seller of cloud-served softwares

Software and Hardware
Acquired
$66.2M
Mismanagement of Funds
Software and Hardware
United States
In 2006
By 2015
Three
Between 501 And 1000
More Than 50M
Mismanagement of Funds
Acquired
WOW Air

Ultra-low-cost transatlantic airline service

Transportation
Bankruptcy
-
Multiple Reasons
Transportation
Iceland
In 2011
By 2019
One
Between 51 And 100
No Data
Multiple Reasons
Bankruptcy
37Coins

Startup that developed Bitcoin technologies

Finances
Shut Down
$525K
Lack of Funds
Finances
United States
In 2014
By 2015
Three
Between 1 And 10
Less Than 1M
Lack of Funds
Shut Down
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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