5 interesting Indian startups that shut down after a short-lived success!

5 interesting Indian startups that shut down after a short-lived success!

5343
0
SHARE

wishberg-to-shut-inc421. Wishberg:
Started by Pravin Jadhav, former Product Head of E-commerce and Mobile at Rediff, and Kulin Shah, former Sr. Investment manager at Reliance Venture Asset Management, Wishberg provided a social platform for people to share their bucket lists with the world. A person could login, update their wish on their profiles, and inspire people across the world to update one of their own, or browse through others’ wishes to find something interesting that resonated with them, or connect with people who were wishing for something that they had already accomplished and talk about the same.

The company that was started in 2011, raised a seed funding of $150,000 and also launched a mobile app. Alas, they shut doors almost a year ago, following which their founding team joined FreeCharge.

2. HashTag:
Founded by Paritosh Sharma, who has previously worked with Hike Messenger and TiE (Delhi NCR Chapter), HasTag was a crowd sourcing platform aimed towards helping startups get validation for their product ideas and features (customer development). After opening shop in 2013, HasTag was picked to join the accelerator program of Intel and UC Berkeley, where they also got a chance to give a demonstration at the Plug N Play Tech Centre, Berkeley.

After the product eventually failed, Hashtag was rolled out into a ‘growth and retention’ company, that operates on a Business Model of taking up two consulting projects a year. So far, these projects include Jabong(increased online customer retention to 61% in 1.2 years), and Kunzum Travel Cafe(established a strong business model execution), among other ongoing/soon to be announced projects.

Paritosh has since moved to PayU Money, where he operates as the head of Channel Partnerships.

3. Blah Diary:
Started in 2008, by Lijin John, Blah Diary was set up for aggregating interesting content on politics, social life, branding, and more, with an aim to evolve into into a content discovery platform with high reader engagement.

According to Lijin, in YourStory, “the idea lacked clarity, form and direction,” which lead to the inevitable shutting down in 2012. He has since indulged himself in corporate positions at Export Promotion Council for Handicraft and Confederation of Indian Industry.

4. Chhotu.in:
A specialist in e-commerce last mile deliveries, the Delhi-based logistics startup – Chhotu was started by Navneet Singh, who had previously worked with Microsoft, and Aadhar Aggrawal, in 2011.

Chhotu soon became the go-to solution for companies such as SnapDeal, Yepme, Yebhi, Zivame, and the likes, for setting up a consistent customer branding, with improved profit margins. Along with a promise of delivery within 24 hours, Chhotu also offered the option of warehouse and packaging, while operating from Delhi, Bangalore, Mumbai and Punjab.

The rapidly growing startup also raised about half a Million dollars, from the multiple angel investors, as it continued disrupting the logistics space in the country, against tough competitors like Bluedart, DTDC, FedEx, Delhivery and more.

Eventually, Chhotu met its end in 2013, due to lack of funds, and scaling opportunities. Most of the team from the startup ended up moving to PayTm.
chhotu5. SchoolGennie: 
SchoolGennie was a technology solution for the K-12 schools, worked with educational institutes to implement cloud ERP to streamline their processes and opening up communication channels between teachers & parents. Started by Pradeep Goyal, who had previously worked with Aricent and Cisco, SchoolGennie was shortlisted company of NASSCOM 10K Startups, and was being mentored by The Morpheus Gang – a famous community of entrepreneurs who come together to share  their entrepreneurial journeys and encourage entrepreneurs with a space to grow.

After developing a prototype, and going through misunderstandings between the founding team regarding the Business Model, SchoolGennie shut down before their first anniversary due to lack of funds, and inability to find a customer base for their product.

You can read the complete story of SchoolGennie, from Pradeep here: From the Founder’s Diary | How we lost Rs 15,00,000 in startup and shutdown before our first anniversary.

 

 

Comments

comments

NO COMMENTS

Comments are closed.

LETSINTERN.COM