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Ozy Media and CEO Carlos Watson convicted of fraud after staged calls with Goldman Sachs
Daniel Levi Posted On July 16, 2024


In a stunning conclusion to a high-profile case, Ozy Media and its CEO, Carlos Watson, have been found guilty of defrauding investors about the financial health of his once-promising premium and digital media startup. The charges included allegations that Watson […]


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ICQ shuts down: ICQ is shutting down after 28 years of offering instant messaging service
Nickie Louise Posted On June 26, 2024


ICQ, the pioneering instant messaging platform fondly remembered by early internet users as “I Seek You,” has officially ceased operations today, June 26, 2024. The shutdown marks the end of an era that began almost 28 years ago. Launched in […]


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Ionic Materials, a tech startup set to revolutionize lithium batteries for EVs, shuts down operations
Nickie Louise Posted On June 6, 2024


Ionic Materials, a solid-state EV battery hopeful, has shut down. According to a report from The Information, the Massachusetts-based Ionic Materials has ceased operations. The company has also let go of nearly its entire workforce, marking a significant setback in […]


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Adam Neumann makes a $500 million bid to buy WeWork out of bankruptcy
Nickie Louise Posted On March 26, 2024


In February, we delved into Adam Neumann’s aspirations after the former WeWork CEO expressed interest in buying back the real-estate startup he co-founded 14 years ago. Fast forward to now, and Neumann has reportedly made a bold move with a […]


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Thrasio, an e-commerce startup that buys Amazon businesses, files for bankruptcy after raising $3.4 billion in funding
Nickie Louise Posted On February 28, 2024


Thrasio, the Medfield, Massachusetts-based tech startup renowned for its Amazon business acquisitions, has filed for bankruptcy protection under Chapter 11 in a New Jersey court. The move, as reported by CNBC, comes as a significant twist in the journey of […]


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Spreadsheet.com is shutting down after raising $5.5 million in funding and over 170,000 users
Nickie Louise Posted On February 24, 2024


Spreadsheet.com, the SaaS startup that entered the scene seven years ago with the ambitious goal of revolutionizing traditional spreadsheet tools like Excel and Google Sheets, is shutting down by the end of May. The decision comes as the startup grapples […]


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Digital news startup The Messenger shuts down less than a year after burning through $50 million
Nickie Louise Posted On February 1, 2024


The Messenger, a digital news startup founded by media executive Jimmy Finkelstein, is shutting down in less than a year, marking a significant setback in the internet media landscape, Axios reported, citing insider information. The announcement follows recent reports hinting […]


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Uber shuts down Drizly, an alcohol delivery startup it bought 3 years ago for $1.1 billion
Nickie Louise Posted On January 17, 2024


Uber is finally moving away from the alcohol delivery business, concluding its billion-dollar experiment with Drizly. The ride-hailing giant announced its decision to close down the Drizly platform by March, according to an exclusive report from Axios. Having acquired Drizly […]


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InVision, a tech startup once valued at $2 billion, shuts down after burning through $356.2M of investors’ cash
Daniel Levi Posted On January 11, 2024


InVision, a New York-based design software unicorn startup, has officially closed its platform. The company made the announcement about its shutdown at the end of last year. Before facing closure, InVision had raised a total of $350 million in funding […]


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Bird, an electric scooter company once valued at $2.5 billion, filed for bankruptcy
Nickie Louise Posted On January 2, 2024


Bird, the electric scooter company once valued at $2.5 billion, has filed for Chapter 11 bankruptcy, citing a series of setbacks. Bird confirmed in a press release that it has entered a “financial restructuring process” to bolster its balance sheet […]


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SmileDirectClub, a telehealth startup once valued at $8.9 billion, shuts down after bankruptcy
Daniel Levi Posted On December 11, 2023


SmileDirectClub has become the latest casualty in what some are calling a startup Mass Extinction Event. The telehealth company, which aimed to revolutionize traditional orthodontics, announced on Friday that it was shutting down operations, just three months after filing for […]


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OpenView abruptly shuts down amid challenging VC climate, despite raising a total of $2.4 billion in funding
Nickie Louise Posted On December 6, 2023


OpenView, a venture capital firm based in Boston known for supporting enterprise software companies like Calendly and Expensify, “abruptly winds down” operations amid challenging pressure on venture capital firms to generate returns on investors’ investment in an era of higher […]


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Zeus Living, a real estate startup backed by Airbnb, is shutting down after raising $150M in total funding
Daniel Levi Posted On November 8, 2023


With the well of venture funding running dry due to the global economic downturn, tech startups are battling for their existence. Unfortunately, some buckle under the pressure and eventually have to close their operations and go out of business. One […]


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From unicorn to bankruptcy: WeWork, once most valuable US startup, files for bankruptcy
Nickie Louise Posted On November 7, 2023


WeWork, the once-celebrated co-working unicorn startup, filed for Chapter 11 bankruptcy protection in New Jersey following years of struggles that started with a failed IPO in 2019. A company spokesperson said that approximately 92% of its lenders had consented to convert […]


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Intuit is shutting down Mint, a popular personal finance app acquired in 2009 for $170 million; moves users to Credit Karma
Nickie Louise Posted On November 6, 2023


Intuit, the financial software company renowned for TurboTax and QuickBooks, is shutting down Mint, a popular personal finance app with 3.6 million active monthly users. Acquired by Intuit in 2009 for $170 million, Mint is scheduled to be shut down […]


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WeWork to file for bankruptcy as early as next week after burning through $22 billion of investors’ money
Nickie Louise Posted On November 1, 2023


Venture capital-backed star, WeWork, has finally met its downfall, transforming into what many are calling “WeCrashed,” a reference to the TV show on Apple+. The once-celebrated co-working unicorn startup is filing for bankruptcy as early as next week, according to […]


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Pebble, the ‘Twitter killer’ social media app, meets an abrupt demise and shuts down after 10 months
Daniel Levi Posted On October 24, 2023


Bloomberg’s Erik Schatzker once said, “Anyone who has bet against Elon Musk has lived to regret it.” Apparently, the founders at Twitter alternative Pebble (formerly T2) didn’t get the memo. Today, Pebble announced that it will be shutting down its […]


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Why Online Businesses Fail: Top 5 Mistakes to Avoid
Nickie Louise Posted On October 18, 2023


Running an online business can be a rewarding venture, but it’s not without its distinct set of challenges. Sadly, a significant number of online businesses experience failure within their initial years of operation. Although various factors can lead to this, […]


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91% of Startups Fail: Here are the top 25 reasons why startups fail in 2022
Nickie Louise Posted On September 19, 2023


Last December, we dedicated an article to reflect upon the startups that didn’t make it through 2022. The previous year posed unique challenges for technology companies, particularly startups. As we’ve consistently highlighted, the startup landscape is notorious for its high […]


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Startups shutting down in 2023: Tech startups that closed up shops in Q2 as venture market cools
Nickie Louise Posted On August 1, 2023


It is undeniable that 2023 has been a challenging year for tech startups across the globe. The initial optimism that started at the beginning of this year quickly gave way to a daunting combination of banking defaults and Federal Reserve […]


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