3 Failed Spanish Startups & Analyses on Why they Failed

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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

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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
Country:
Spain
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.

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
Country:
Spain
Industry:
Social Media
Started in:
2015
Closed in:
2016
Funding Amount:
$0
Specific cause of failure:
Dependence on Others

You can read more about their failure here.

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
Country:
Spain
Industry:
Education
Started in:
2017
Closed in:
2019
Funding Amount:
$1M-$5M
Specific cause of failure:
Bad Business Model

You can read more about their failure here.