3 BIGGEST FAILURE STARTUPS
I know if you came here then you know that what is startups? so this is not a question for today session. But the problem is that how and why startups fail.
Every single startup’s entrepreneur doing something new so this is the reason that this is called startup.
But if every time the idea is new then why startups fail?
In today article I have discussed the biggest fail startups of all time and why they fail.
Zebpay was founded by three friends name SOURAV AGARWAL, SANDEEP GOENKA and MAHIN GUPTA in 2015 these startups made millions of dollars.
This was the most significant cryptocurrency trading platform in India.
They had more than 3 million subscribers on bitcoin and cryptocurrency.
They had secured 1 million dollar funding but they had shut down due to the RBI circular issued on 6th April.
WHY THEY FAIL?
The ban of cryptocurrency by RBI made fail of this millionaire startup.
This is an amazing idea or you can say this is a superb startup but this is short term startup.
Always think about the long term. That after 10 years where is your startup stand.
Ofo is a Chinese company that started in 2014. The founder of OFO is DAI WEI.
Mainly this is a startup of bike that wants to spread bike all over the globe.
This startup got 800 million dollar funding but they fail after seven months of their start.
WHY THEY FAIL?
This startup was brilliant but they fail just because of timing.
At the time of 2014, many companies were working for bikes like MARUTI SUZUKI and this is not the perfect timing for OFO.
While this startup is now growing because they start work on charging bicycle. And this the perfect timing for that.
They launch the wrong product at the wrong timing.
So this shows that how much timing matter in your startup.
#3. MONKEY BOX
This startup was started in 2015.
This is the first startup that supply food to school student and this is brilliant startup they start.
Teamwork is very low. sometimes they never able to supply food on time.
The timing is ok but not too. In 2015 people not used online payment and the most important thing was their teamwork is not good.
If they work properly then no chance that they fail.
Originally published at https://www.psychologysarva.com on June 10, 2021.