The SoftBank-backed unicorn was last valued at $3B in 2018 and had raised nearly $1.5B in total funding from investors such as Khosla Ventures and Greenoaks Capital Management.Īlthough the company cited mismanagement as the driver of its downfall, the collapse of lender Greensill Capital, just 3 months earlier, also played a role. Modular construction startup Katerra filed for Chapter 11 bankruptcy in early June 2021. Court-Supervised Process to Implement Financial Restructuring Read on for the post-mortems of 10 startups that shut down since February 2021. Along with Covid-19, other challenges - like overcrowded markets ( SuperData Research), mismanagement ( Katerra), and difficulties scaling operations ( Hey Tiger) - have led to some companies shuttering for good. īut not all companies rode this funding wave to success. More than a year in, many companies have survived the uncertainty brought on by the global pandemic, or even thrived: Q1’21 saw record-breaking funding go to fintech cos, while retail tech funding tripled year-over-year. Startup Failure Post-Mortems 2021 Second Update (6/16/21) Original 50 Startup Failure Post-Mortems ().Startup Failure Post-Mortems 2014 First Update ().Startup Failure Post-Mortems 2014 Second Update ().Startup Failure Post-Mortems 2015 First Update ().Startup Failure Post-Mortems 2015 Second Update ().Startup Failure Post-Mortems 2016 First Update ().Startup Failure Post-Mortems 2016 Second Update ().Startup Failure Post-Mortems 2016 Third Update (11/8/16).Startup Failure Post-Mortems 2017 First Update (2/10/17).Startup Failure Post-Mortems 2017 Second Update (6/9/17).Startup Failure Post-Mortems 2017 Third Update (10/31/17).Startup Failure Post-Mortems 2018 First Update (4/17/18).Startup Failure Post-Mortems 2018 Second Update (8/13/18).Startup Failure Post-Mortems 2018 Third Update (11/14/18).Startup Failure Post-Mortems 2019 First Update (2/28/19).Startup Failure Post-Mortems 2019 Second Update (6/19/19).Startup Failure Post-Mortems 2019 Third Update (10/16/19).Startup Failure Post-Mortems 2020 First Update (1/21/20).Startup Failure Post-Mortems 2020 Second Update (8/18/20).Startup Failure Post-Mortems 2021 First Update (2/1/21).Startup Failure Post-Mortems 2021 Second Update (6/16/21).So why do so many startups flame out? The real reasons can be hard to uncover, but the obituaries written by founders, investors, and journalists offer plenty of clues.īelow is a time-staggered compilation of startup post-mortems for some of the most notable failures in the CB Insights database.Īfter reading the 378 goodbye letters and investigative takedowns below, check out our rundown for the top 20 reasons that startups shutter.
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