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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Turntable.fm

Online interactive platform for DJs and listeners

General Information
Category
Music
Country
United States
Started
In 2011
Business Failure
Business Outcome
Shut Down
Closed
By 2013
Cause of Failure
Bad Business Model
Founders & Employees
Number of Founders
One
Name of Founders
Billy Chasen
Number of Employees
Between 1 And 10
Funding
Number of Funding Rounds
1
Total Funding Amount
$7M
Number of Investors
10
Description

Turntable.fm was an online interactive platform on which DJ, fans and casual listeners were brought together. People could choose avatars for themselves, browse different music rooms and create a playlist.

Cause of Failure

The company shut down its services two and half years after its promising launch in order to conserve its remaining venture capital to focus on the live version of their startup. The cost of running this music service proved to be too expensive and was not financially viable for them. Turntable.fm decided to play licensed music which proved to have drained their time and capital. Although the platform originally raised $7.5 million as soon as they started to expand internationally things got out of hand. They also weren't fast enough to adapt to the new mobile era.

Go on Reading

Beepi

P2P used car online marketplace

Transportation
Acquired
$149M
Mismanagement of Funds
Transportation
United States
In 2013
By 2016
Two
Between 101 And 250
More Than 50M
Mismanagement of Funds
Acquired
Wesabe

Personal finance management website

Finances
Shut Down
$4.7M
Bad Management
Finances
United States
In 2005
By 2010
Two
Between 11 And 50
Between 1M 10M
Bad Management
Shut Down
SchoolGennie

Provide data to schools about their pain points

Education
Shut Down
-
Lack of Experience
Education
India
In 2013
By 2014
Two
Between 1 And 10
Nothing
Lack of Experience
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
Aria Insights

Air vehicles for search and rescue missions

Software and Hardware
Shut Down
$39M
Multiple Reasons
Software and Hardware
United States
In 2008
By 2019
One
Between 11 And 50
Between 10M 50M
Multiple Reasons
Shut Down
Radar Radio

UK digital radio station

Entertainment
Shut Down
-
Mismanagement of Funds
Entertainment
United Kingdom
In 2008
By 2018
One
Between 11 And 50
Nothing
Mismanagement of Funds
Shut Down
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Get 1-on-1 advice from vetted growth experts about your business.

Bookafy

Bookafy

Provide your clients and staff with a beautiful appointment booking experience.

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HostGator

Easy and affordable web hosting and domain services for entrepreneurs.

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