The Internet era has surely given an excellent platform to various aspiring entrepreneurs and allowed them to churn hefty earnings. However, improper planning and strategies by many start-up companies have lead to drastic failures. Let’s have a look at the top 3 start-up failures in India.
Spoonjoy was a food delivery start-up by founder of Flipkart Sachin Bansal. Initially the company started with excellent funding which could not be sustained due to lack of planning and the operations were soon scaled back.
- Jewelskart, watchkart, Bagskart
These three niche E-commerce websites were launched by Vayloo Technologies. These were one of its kind websites which had branded products which could not meet the requirements of general buyers which ultimately lead to its failure.
- Done By None
Done by none was an only women fashion brand which was funded by Seedfund. The company invested USD 2 million in this start-up venture; however, the brand name was short lived as it just could not cope up with the competition.
The prime reasons for failure of these ventures were improper market study. Even the veteran business professionals could not save these ventures because of poor strategic planning.