3 Failed Startups from Indonesia & the Reasons Behind
Countless startups are being launched every day in Indonesia.
Many fail because they did not learn from the success of other companies who've managed to rise above.
We just published this list of 3 failed startups from Indonesia with analyses on why they shut down, and interviews with their founders.
3 Failed Startups Founded in Indonesia
1) Alikolo
Alikolo was an eMarketplace company. The founder didn't have a clear vision and didn't know the reasons why customers purchased at his rivals.
Details of the startup:
- Founders: Danny Taniwan
- Industry: e-Commerce
- Started in: 2014
- Closed in: 2015
- Nº of employees: 1-10
- Funding Amount: < $1M
- Specific cause of failure: Lack of Experience
You can read more about their failure here.
2) Creator Growth Lab
Andrew Kamphey has started several projects related to creators and influencer marketing. One of them was Creator Growth Lab, a tool to help Instagram creators grow by themselves. He invested $5,000, never made a penny, and realized there was no need for that product.
Details of the startup:
- Founder: Andrew Kamphey
- Industry: Analytics
- Started in: 2018
- Closed in: 2019
- Specific cause of failure: Dependence on Others
You can read more about their failure here.
3) Profitabilly
Natagon is an entrepreneur from Bali who, trying to solve a problem he was struggling with in his development agency, built a SaaS that mixed a project management software with an accounting one. Using cold-emails, he was soon able to make it profitable, but lack of passion led to its shut down.
Details of the startup:
- Founder: Natagon
- Industry: Software & Hardware
- Started in: 2018
- Closed in: 2019
- Specific cause of failure: Lack of Focus
You can read more about their failure here.
