Transpose failure

Transpose

Smart workspace for businesses to manage projects

Description

Transpose, a Seattle startup which initially took off as a note-taking app known as KustomNote, decided subsequently to implement a major strategy shift that would give full attention to its business customers. Transpose then grew into a more comprehensive information management platform, changed its name and introduced new features. It also started charging its users a monthly fee of $14.99 per to access to its tools while keeping a limited-access free plan.

Stats

Category
Productivity
Country
United States
Started
In 2015
Closed
By 2015
Number of Founders
Four
Name of Founders
Hussein Ahmed, Matt Goyer, Samah Gad, Skyler Johnson-Wagner
Number of Employees
Between 11 And 50
Number of Funding Rounds
1
Total Funding Amount
$1.5M
Number of Investors
2
Precise Cause of Failure
Bad Business Model
Business Outcome
Shut Down

Cause of Failure

Transpose operated for about two years before shutting down on December 9th, 2016 citing the inability to generate enough revenue to sustain the business as one of the main culprits. Although no further details were divulged following such closure, the company probably failed in its marketing strategy and product placement. Another possible reason for low revenue generation could have been the company's product pricing strategy which might have not resonate well with its initial clients that had originally used the app as an alternative to Evernote.

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