As we have already talked about it, the startups are the backbone of the innovation on the Internet, and several years ago it was like that. Naturally, behind any success story, there are hundreds and thousands of failures that open the path to those who can achieve it. Superior companies have marched along the Internet and a good percentage of them failed miserably. So the failed start-ups below were once promising, but one wrong step led to their downfall. Friendster came before MySpace in 2002, a classic case of Startups That Were Killed by Competitors.
And why,then, its exclusion in the history of this medium? Friendster never knew to exploit the social aspect of social networks and also to read it. Although it is normal these days that some form of news can be found in our feed, or that some kind of interaction be seen between the profiles, at Friendster the content was fixed unless you personally sought the profile of a friend. The popularity of Friendster did not last long and soon the services such as MySpace appeared.
Common Founder Issue
Which destroyed the market pattern that Friendster came to offer. This is most likely one of the most notable ones among the failed startups. The irony? Google was ready to acquire the site at 30 million dollars and this is an acid memory of one of the greatest failures in the history of Silicon Valley. Having got $41 million of investments, Color could have been Instagram today.
But a bad design of its user interface, as well as free access to privacy policies of the user photos, made this application soon forgotten. The temporal nature of color came with a period where you fail to seize the momentum of your startup then there will be others who will do what you do and succeed and will take your position out. Too bad. The example of Pay by Touch among failed startups is quite strange because it did not fail due to the business problem, or the poor design of it, Pay by Touch had all the chances to become a great platform to buy food and groceries by simply swiping their finger.
Context
The issue was when its founder got in a scandal because of an allegation of a domestic violence, which caused a financial problem to the company. So, at one point, the company was no longer able to go on and the system broke. The story of numerous unsuccessful startups is that they are ahead of their time and that is what it happened to Boo in the late 90s.
Accessories, fashion products over the Internet, with an interface that captured high interactive and eye-pleasing graphics, failed to live up to its creators because the people of Britain, who made up only 20 percent of the citizens who used the Internet at the close of the last century, did not go to it in large numbers. An engine which had the potential to compete with Google, but it did not have the ability to capitalize it, so it went right into history.
Get Right To The Point
It is one of the most outstanding ventures in web 1.0 history that itself went under, like other collapsed startups, into oblivion. Most companies encounter numerous issues and most of them fold up. Even tech companies are exceptionless, but the major press releases made by the so-called startups when they raise a million-value of funding or post sales statistics do not go hand in hand with the funeral silence documented when they are forced to liquidate. Chiefly due to the fact that, in the ambiance of the so-called startups industry, some of them succeed.
Conclusion
In, with their assistance, raising millions of euros and then poof-down the proverbial drain and turn into a wizard of Oz of what they might as well have become. These are some of the Spanish start ups that have given us this year a list of waste, layoffs and closures. On December 2016, only Teknautas revealed that the e-commerce group eShop Ventures, so-called Spanish Amazon was at the edge to get bankrupt and closed with effects.
The conglomerate had been carrying an awful economic disaster many months (and it had touched everyone: the company was doing a layoff, the workers were slowly dropping out, the suppliers had not been getting paid, investors were not enthusiastic to cough out new dollars, and the people using their ecommerce sites said they were already paying money over products which were not being delivered to them). Following some deviations and neglect of this fact, the CEO of eShop Ventures, Rafael Garrido, finally accepted the reality of the situation to this newspaper.
