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

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

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1. DoneByNone:
Started by Vijesh Sharma, Vijay Kumar Misra, and Amarindar Singh Dhampal, in 2012 – Done By None was a private fashion label, based out of Gurgaon – catering to an audience of young, price-conscious women, who are sensitive to the latest and upcoming. trends.

Apart from selling through their own e-commerce website that operated under HandsPick during the initial years, it also sold products, including merchandise, hand-bags, and shoes, on Flipkart, Jabong and Amazon.

984050_436048793164815_650996628_nAfter raising an initial funding $2 Million, from Seedfund – early stage investment firm, things for DoneByNone were looking good as they claimed to clocking in 250 orders a day, with 18 percent repeating customers, and a gross merchandise value of Rs. 1 Crore per month.

In December 2014, all the three co-founders quit the company, on account of not being able to raise further investment, and DoneByNone shut down operations by the next month, with a promise to clear all customer dues. Although, a statement from Seedfund hinted towards a comeback soon, with a new team, DoneByNone never made an appearance again.
TalentPad2. TalentPad:
Launched in Feb 2014, Delhi-based TalentPad was an online platform that was launched to offer a more efficient recruiting marketplace in technology, and to disrupt the talent acquisition space that was majorly being governed by traditional channels like job-boards, recruitment agencies, etc.

Their second generation platform allowed the candidate to showcase his profile to hundreds of employers in a week, and in the process get multiple interview opportunities with upfront compensation and other details. Post that the candidate could decide where to interview, and subsequently get hired in a matter of days.

On the other hand, companies got access a ready pool of about 100 highly qualified and pre-screened candidates every month, thus reducing their time to hire and increasing their quality of hire.

In a short span of 8 months, TalentPad had over 150 companies on board spread across sectors like e-commerce, online media, mobile, enterprise SaaS and online education with a client line up that included big names InMobi, MakeMyTrip, Snapdeal, Myntra and BookMyShow.

11218251_1599679160276165_2276342001176149637_oBy October 2014, TalentPad had raised an undisclosed amount of funding from the renowned Helion Advisors, and in May2015, they acquired the Bangalore based rival OptimizedBits, to simplify the hiring for technical talent.

In August 2015, TalentPad shut shop, after not being able to achieve scalability like they had hoped.

maxresdefault3. Cubeit was a mobile application that let you collect content from any source, making it ridiculously easy to find and share.

Founded in 2014, by Sarthak Jain, Prathmesh Juvatkar, and Nithin Gadiparthi, who came together at IIT Gandhinagar, with a vision to revolutionize the way devices and content interact with each other, Cubeit was backed by early investors IIT Gandhinagar, Asha Jadeja Motwani (a Silicon Valley investor) and also by India’s top Venture Capital funds, Accel Partners and Helion Venture Partners.

With Cubeit, you could organize your stuff into neat Cubes – think a container to put any digital content including links, documents, videos, photos, music, anything at all – irrespective of content type or source. This meant a link you like, a photo you’ve taken, or a video from YouTube, all live together.

cubeit

“We started out building Cubeit because we realized that your digital life is spread across too many different apps and we wanted to bring it all in one place. We wanted to create one place where you can store anything and everything,” Nithin Kumar, wrote on Product Hunt.

In June 2016, Cubeit got acquired by Myntra, for an undisclosed amount, and the team closed their gates, to – “to leverage their skills and further build upon a very strong technological base.” This means they’d be joining hands with the Technology team at Myntra, to focus on helping them in content aggregation – something that Cubeit was known for.

Source: http://techstory.in/wp-content/uploads/2016/02/frankly.me_.jpeg
Source: http://techstory.in/wp-content/uploads/2016/02/frankly.me_.jpeg

4. FranklyMe:
Founded in 2014, by Nikunj Jain and Abhishek Gupta, FranklyMe offered a convenient social media platform for video communication, by providing a tool which allows you to effectively express yourself in videos, without having to meet high video production expectations.

This opened up a new social networking platform for video logging for brands, businesses, and individuals, where celebrities like Javed Akhtar and Arvind Kejriwal also made appearances, using the application to interact with their fans in real-time, answering questions, and just generally expressing their thoughts on issues important to them.

Team @ frankly.me | Source: https://cdn.inc42.com/wp-content/uploads/2016/02/nikunj-jain.jpg
Team @ frankly.me | Source: https://cdn.inc42.com/wp-content/uploads/2016/02/nikunj-jain.jpg

Franklyme raised $600,000 from Matrix Partners, who have invested in successful ventures like Practo, Quikr, Ola, Chumbak, Limetray, and more. Before shutting shop in February 2016, they had raised an undisclosed amount of pre-Series A funding in January, so the news of them not going ahead with the operations was shocking. Writing about their decisions, Nikunj wrote:

Despite these early successes, we haven’t been able to achieve sustainable product market fit. While the market seems keen on adopting video to consume happenings around itself, video creation still remains a challenge and probably a problem a little ahead of its time.

Source: https://scontent.fmaa1-1.fna.fbcdn.net/t31.0-8/882463_908566075923754_959387681991712137_o.jpg
Source: https://scontent.fmaa1-1.fna.fbcdn.net/t31.0-8/882463_908566075923754_959387681991712137_o.jpg

5. Tooler:
Delhi based Tooler provided on-hand Landry care solutions – washing, dry-cleaning, ironing, folding – at your door step, promising no hidden pickup or delivery charges. Founded in 2015, by Himanshu Arora, Vishal Gupta, and Sukanth Srivatava, Tooler raised angel-funding of $110,000 from Raghu Khanna(Founder and CEO of CASHurDRIVE), and Sameer Gupta(‎CFO at GREX, and a startup accelerator/mentor).

With Tooler you could choose a convenient pick-up time for your laundry(from a small towel to a big leather sofa), track your order, make cashless payments through PAYTM – all under 48 hours – all of which sounded good, until January this year when the company stopped taking anymore orders. After a long silence on their website, and social media, Sukanth Srivastav chimd in in February stating that the startup wasn’t shutting down, but instead is on a ‘renovation leave’ for fifteen days.

“Our cashflow will always be maintained because of our B2B play,” he said. “It’s much more expensive to be in Delhi and Noida, we have a certain amount of funds that we need to make it last for a full year. We feel that the Gurgaon market is going to be big enough,” he told NDTV.

Unfortunately, they have been off the radar ever since.

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