3 Failed Spanish Startups & Analyses on Why they Failed
Spanish startups are on the rise lately.
This means more successful businesses… but at the same time, more failures.
Here’s a quick list of 3 startups from Spain that have shut down.
3 Failed Spanish Startups
1) Selltag
Selltag was a web-based buy & sell platform. The CEO realized their business model would not be sustainable in the long term and shut it down.
Details of the startup:
- Founders: Javier Escribano, Ruben Colomer, Juan Luis Hortelano, Walter Kobylanski
- Industry: e-Commerce
- Started in: 2014
- Closed in: 2015
- Nº of employees: 10-50
- Funding Amount: < $1M
- Specific cause of failure: Failure to Pivot
You can read more about their failure here.
2) Hashtag Pirate
Nicolas is an IT support engineer who built Hashtag Pirate, an Instagram hashtag search engine. He hired a freelance developer and, once launched, he put a big focus on SEO. Things were going pretty well. However, in 2015 Instagram announced changes to its API and so Hashtag Pirates stopped working.
Details of the startup:
- Founder: Nicolas Elec Attallah
- Industry: Social Media
- Started in: 2015
- Closed in: 2016
- Specific cause of failure: Dependence on Others
You can read more about their failure here.
3) Lernin Games
Jordi Miró has been building products and companies since 2007. After a successful CTO experience in Wuaki TV, he founded Lernin Games, an EdTech startup focused on toddlers. He raised €1.5M and built a team of 10, but Lernin ran out of cash and the project couldn’t succeed.
Details of the startup:
- Founder: Jordi Miró
- Industry: Education
- Started in: 2017
- Closed in: 2019
- Specific cause of failure: Bad Business Model
You can read more about their failure here.
