Story Tag: startup failure
Shanti is a 38-year-old software developer and entrepreneur who, using Ruby on Rails, built Phez, a Reddit clone that rewarded users with Bitcoin. After a few months, however, Phez failed due to its poor business model. If Shanti would have sold the BTC he used as rewards at BTC peak, he would have made $29,014!
Andrey Norin is a budding entrepreneur, responsible for all the successes and the failures of ExploreVR. This was a directory site focused 100% on virtual reality. He started it in 2017 and shut down a few months later. His lack of experience in creating a business from scratch was the main cause of failure.
In 2015, Alessio and Stefan partnered up to start building LeadsBridge, an all-in-one lead generation platform that helps companies collect more leads online. It started super simple: a WordPress website and an app that interfaced with Facebookâs API. After 3 years of hard work, they were able to achieve +$150,000/month. Read this interview to understand how they built it, their marketing strategies and the mistakes committed during bootstrapping their business.
Lockpick Entertainment was a small game studio, that created Dreamlords, a famous MMORTS game. They did it well, making thousands per month. But they began to increase the scope, and after 6 years, they went out of business due to bankruptcy.
HitroNaSplet was a hosting reseller company. They invested a lot of time in SEO and achieved the first page in Google, which let them start making some monthly revenue. However, after some months, they realized it didn't generate enough revenue to be worth the time invested, so they closed their doors.
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.