stratups

6 failed startups of 2017 despite raising million dollars

There are many startups that show all the promise of becoming the next big idea but somehow, somewhere in their journey something goes unexpectedly wrong. Business Insider takes a deep look at the top invested startups that unfortunately were forced to shut down in 2017.

Here is the list:

Beepi: 2013 — February 2017

Capital raised: $150 million

Reason of Shutdown: Ran out of money

Quixey: 2009 — February 2017

Capital raised: $133 million

Reason of Shutdown: No steady revenue source

Yik Yak: 2013 — April 2017

Capital raised: $73 million

Reason of Shutdown: Unable to retain users on their platform

Maple: 2014 — May 2017

Capital raised: $29 million

Reason of Shutdown: Could not retain their core team

Sprig: 2013 — May 2017

Capital raised: $57 million

Reason of Shutdown: “the complexity of owning meal production through delivery at scale was a challenge.” – founder and CEO Gagan Biyani

Picture and Post Credit: Business Insider

 

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