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.
Online interactive platform for DJs and listeners
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.
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.
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