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Startups Which Should Have Succeeded But Failed

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Startups Which Should Have Succeeded But Failed,Startup Stories,Famous Failed Startups,Famous Failed Startups in india,Failed Startups 2019,Successful Startups,Workplace Tips 2019,Famous Startups Succeeded But Failed,Biggest Startups Failures


Ideas are like magic. Either they work or they just fizzle out and die. The same concept works with startups as well. While some startups with supremely crazy ideas boom and leave you wondering about how that happened, others which should have succeeded, failed miserably. Today, instead of looking at the successful startups, here is taking a look at the ones which should have succeeded, but didn’t:

1. Friendster

Touted to be one of the first social media websites in the World, Friendster failed to take off as well as Facebook.  Founded in the year 2002, Friendster hit the ground running with $ 50 million as funding. The site was so popular, even Google wanted to buy the site for a whopping $ 30 million.  However, Friendster got too confident and decided to reject Google’s offer, a move which is still considered as one of the biggest mistakes made by a startup. While the idea of connecting with friends and talking to people on a common platform was considered a novel and bright idea, Friendster failed because it refused to move with the trends.  By not letting users share news, the site slowly started becoming irrelevant as people started growing bored of the simple tools. What also went against Friendster was, it was profile based and did not let you do things unless you went directly to a person’s profile. If Friendster had stuck to the trends and gone with the flow, it wouldn’t have fizzled out and disappeared so quickly. Oh well,  at least other social media platforms are learning from Friendster’s mistakes!

2. GovWorks

Founded in the year 1998 by two childhood friends, GovWorks had all the right intentions, but was not worked on in the right way. Designed both to help the government keep track of its clients, and for the citizens to perform tasks like pay tickets online, apply for jobs and look for information regarding to the city in which they were, the startup grew from having just 8 employees in the beginning to 250 employees by 2000.  However, because of major rifts between the two founding partners, the startup refused to take off. Furthermore, because of the founders’ inability to fix the constantly growing bugs, they had no option but to sell GovWorks in 2001. The lesson here? If you are mixing your professional and personal life, make sure you have a plan of action to not let things go bad.

3. Webvan

Before the likes of BigBasket and other grocery delivery platforms became popular, WebVan started toying with this idea in the year 1999.  Founded by Louis Borders during the dot com boom, the startup promised to deliver groceries to customers within a 30 minute time frame.  Louis Borders and CEO George Shaheen believed in the online system so much, they jumped into the business with guns blazing.  Despite buying warehouses full of produce, trucks to deliver the products and expensive computers to simplify the delivery process, the startup refused to make a mark. With people refusing to buy into the idea of ordering groceries online and because of the lack of internet everywhere, the owners had no option but to shut up shop in the year 2001.  If they had waited for a few years later, they would have made quite a mark now!

4. Pay By Touch

While Paytm is perhaps one of the most used apps for online payment, it wasn’t the first startup of its kind. Founded in the year 2002, Pay By Touch allowed users to make online payments with the swipe of a finger on a biometric sensor. Innovative and one of the first startups of its kind, Pay By Touch rose quickly and even raised $ 340 million! However, despite doing extremely well, the Company started failing because CEO John P. Rogers was accused of domestic abuse and possession of drugs, amongst other charges. With so much bad press, the Company stopped doing well and in 2007, it had to be shut down.

5. WebTV

Founded in 1995, WebTV was supposed to be a combination of the World Wide Web and television. Coming in the size of a VCR which promised to bring affordable internet to the living room without using a PC, WebTV grew so big, MSN bought it and renamed it as MSN TV in the year 1997. However, because of the lack of availability of broadband and the steep price of the device, the idea slowly started to die.  While WebTV didn’t take off when it launched, companies like Xbox 360 and DVRs are using a similar principle now.
While each of these startups thought their ideas could work if done right, they all failed because they just couldn’t make it across the troubled waters. If you think we missed out on other startups like these, comment and let us know!

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Reddit Soars After Strong Earnings and Upbeat Outlook

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Reddit, the social media platform known for its online communities and meme culture, saw its stock price jump significantly after releasing its first earnings report since going public in March. Investors were impressed by the company’s strong financial performance and optimistic forecasts for the future.

The report highlighted a surge in user engagement, with daily active users increasing by 37% to 82.7 million in the first quarter. This growth was accompanied by an 8% rise in average revenue per user, indicating Reddit’s success in monetizing its platform. 

Perhaps the most significant factor driving the stock price increase was Reddit’s forecast for the second quarter. The company projected revenue to fall between $240 million and $255 million, exceeding analyst expectations. Additionally, Reddit anticipates achieving break-even status or even generating a profit, surpassing predictions of a loss.

This positive outlook can be attributed in part to Reddit’s flourishing advertising business. The company is also capitalizing on a new revenue stream: content licensing deals with artificial intelligence (AI) firms. Reddit’s vast collection of user-generated content provides valuable data for training AI models, attracting companies like Google.

Analysts believe Reddit is still in its early stages of monetization and predict continued growth in the coming quarters, fueled by advancements in ad targeting and measurement tools. This optimism is reflected in the stock price surge, which has climbed roughly 70% since Reddit’s IPO.

Overall, Reddit’s first earnings report paints a bright picture for the company’s future. With a thriving user base, increasing revenue opportunities, and a promising outlook, Reddit appears well-positioned for continued success in the ever-evolving social media landscape.

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Meta’s AI Assistant, Meta AI: Friend or Foe for Searching Giants?

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Meta Platforms (formerly Facebook) has introduced Meta AI, an AI assistant, powered by Llama 3 language model, designed to be your one-stop shop for information, chat, and creativity. This means you can get real-time information on Facebook, WhatsApp, Messenger, and Instagram without ever leaving the app!  

Meta AI’s search strategy is an intriguing twist. While it may appear to be a competitor to Google and Bing, it contends that Meta AI is not a competitor, but rather a collaborator. Here’s why:

By relying on established search engines as sources, Meta AI positions itself as a user-friendly tool that combines the best of Google and Bing. Imagine getting results from both Google and Bing in the same search. As you are exposed to different points of view, you may gain a more comprehensive understanding of the subject. They’re calling it the “most intelligent AI assistant that you can freely use,” so it will be interesting to see how it compares to other assistants on the market. 

How does Meta AI help you? 

Search Powerhouse: Meta AI combines Google Search and Microsoft Bing results to provide you with a more comprehensive view of your queries.

Chatty companions: Need answers or simply want to talk? Type “@MetaAI” into Facebook Messenger, Instagram, or WhatsApp and let the conversation begin.

Creative Spark: Feeling artistic? Meta AI allows you to create custom stickers and photos based on your text descriptions.

Where to Find Your Meta-AI Buddy:

  • Look for Meta AI in the search bars on Facebook, Instagram, Messenger, and WhatsApp.
  • To respond to posts, interact with Meta AI directly in Facebook’s main feed.
  • Explore the new meta.ai website for extended conversations.
  • Type “Imagine” into your WhatsApp chat to generate real-time images.
  • The future may even include access via Meta’s VR headsets and Ray-Ban smart glasses.

The Future of AI Assistants

Only time will tell how Meta AI integrates into our lives, but it certainly offers a glimpse into an interactive future where AI assistants cater to our search, chat, and creative needs.  Whether Meta AI becomes a true partner to search giants or forges its own path remains to be seen.

Meta AI promises a brand new way to search and interact with information.  Do you think this AI assistant will change the way we use social media? Share your thoughts in the comments below! 

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5 Successful Indian Startups Founded By Women

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The workplace has undergone massive changes in the last century.  At the turn of the Industrial Revolution, any workplace was dominated by men while the women were delegated to run the homes.  However, with the advent of the internet and new and exciting technologies, workplaces have undergone a tectonic shift.  Women are no longer comfortable staying at home and are instead opting to lead teams and organisations.  As every year passes, we get closer to true gender equality, women have proven time and again that they are equally capable to get the job done if not better in some instances.  Names like Wolfe Herd (Bumble founder,) Kylie Jenner     (Kylie Cosmetics founder,)  Masaba Gupta (Masaba clothing label founder) are just some of the names who are known for leading world famous brands with their unique style of leadership. 

As the world celebrates International Women’s Day, we bring to you five women founders who run world famous and successful startups.

1) Upasana Taku-MobiKwik

If you are an Indian and are used to doing online shopping, more often than not at the time of payment, you would be directed to a payment gateway.  One of these gateways would normally be MobiKwik.  The startup is a well known name in the digital payments and digital wallet space.  MobiKwik was founded by Upasana Taku in 2009, who prior to founding MobiKwik used to work with PayPal.  Today Upasana Taku is also in charge of bank partnerships, business operations, and talent acquisition at MobiKwik.

2) Richa Kar-Zivame

An enthusiastic MBA student, Richa Kar, developed an online lingerie shopping platform in the year 2011.  Currently, Zivame is India’s leading online lingerie store with a valuation of more than $ 100 million.  The brilliant idea for her own lingerie business came to light when Richa tracked Victoria’s Secret’s sales, who was one of her clients when she was working at SAP.  She observed the lingerie sales figures reached peaks overseas but, Indian women were not provided with the similar innerwear.  While Richa was studying the Indian lingerie market, she realized the social embarrassment in India surrounding lingerie shopping.  Today Richa Kar could be credited with destigmatising the uneasiness surrounding lingerie shopping in India.

3) Falguna Nayar-Nykaa

After a long stint as an investment banker, Falguni Nayar founded Nykaa.com in the year 2013. An online one stop shop for beauty products from Indian and international brands, Nykaa changed the world of online shopping.  Who would have ever thought buying makeup online would be so easy? Falguni Nayar proved many critics wrong and created a brand new place for people who love experimenting with styles, designs and colors.

ALSO READ: Zivame: Founding Story

4) Sabina Chopra-Yatra.com

Yatra.com is a popular Indian website for making flight and hotel bookings.  Sabina Chopra was instrumental in identifying the potential for travel commerce in India and people moving towards cheaper or easier travel.  By the time, people started looking to make bookings, Sabina made sure Yatra.com was already in place.  Sabina was the former Head of India Operations of eBookers, which is also an online travel company based in Europe.  Along with this, she was also working with Japan Airlines which further adds to her experience in the travel industry.

5) Rashmi Sinha-SlideShare

SlideShare allows people to upload and access their presentations online.  While this feature is presently available everywhere, SlideShare was one of the first players in making this happen.  Rashmi Sinha was one of the founders of the presentation sharing platform SlideShare.  The company became so successful that in 2012, LinkedIn acquired the company for an amount of $100 million.

Let us know in the comments if you know any other wonderful women who have become leaders of their right or have started up and are doing extraordinary things.  We at Startup Stories wish a wonderful Women’s Day to all the women in the world who are changemakers.

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