4 Failed Sydney Startups & Analyses on Why they Failed
Here’s a list of 4 failed startups from Sydney.
Some of them were big, with huge teams and funding rounds.
Others were smaller, ran by the co-founders, and with no funding.
But all of them shut down.
And each for a specific cause of failure.
4 Failed Startups Founded in Sydney
1) 99dresses
99dresses was a fashion app that offered trades of second-hand designer dresses between users. It operated for a year but had to shut it down in 2014.
Details of the startup:
- Founders: Nikki Durkin
- Country: Australia
- Industry: e-Commerce
- Started in: 2010
- Closed in: 2014
- Nº of employees: 1-10
- Funding Amount: < $1M
- Specific cause of failure: Multiple Reasons
You can read more about their failure here.
2) Onepagetrip
Onepagetrip was a travel itinerary sharing community. Not having a plan to make money from the beginning was a stupid rookie mistake.
Details of the startup:
- Founder: Ana Santos
- Country: Australia
- Industry: Travel
- Started in: 2014
- Closed in: 2015
- Specific cause of failure: Bad Business Model
You can read more about their failure here.
3) The Nerd Cave
The Nerd Cave was a new kind of retail model, a truly safe space for gamers of all kinds to go and enjoy their passion and hobby. They were doing it great, earning $16,000 AUD/month. But when they moved to a new location, they saw a big loss of income, which provoked the closure of their doors.
Details of the startup:
- Founder: David Desi
- Country: Australia
- Industry: Entertainment
- Started in: 2013
- Closed in: 2017
- Specific cause of failure: Lack of Funds
You can read more about their failure here.
4) Zor Technology
When he was 16 years old, Mat wanted to help his family improve the standards of living. So, he started a business which imported consumer electronics and re-sold them at almost x10 the original price. Through affiliates, he was able to put his business on the track to 6 figures in the first year. However, one day he received a call from a law firm which forced him to shut down the startup.
Details of the startup:
- Founder: Mathew Carpenter
- Country: Australia
- Industry: Software & Hardware
- Started in: 2008
- Closed in: 2009
- Specific cause of failure: Legal Challenges
You can read more about their failure here.
