Executive Summary: BitConnect is a lending platform that allowed users to trade their Bitcoins in exchange for the platform’s native token and earn interest in the process. BitConnect was ultimately shut down because the platform turned out to be a Ponzi scheme and thus wasn’t able to repay its investors. What Is BitConnect? BitConnect is … Read more
Executive Summary: MoviePass was a platform that allowed users to attend a set number of movies in exchange for paying a monthly subscription fee. MoviePass failed because its business model was unsustainable, due to lack of focus, loads of competition, as well as internal struggles within the company itself. What Is MoviePass? MoviePass was a … Read more
Executive Summary: Flappy Bird is a mobile game in which you tap the screen to make a pixelated bird fly and avoid obstacles. Flappy Bird was deleted because its creator, Dong Nguyen, was overwhelmed by the sheer amount of interview requests and hateful sentiment he received. The original game was taken down on February 9th, … Read more
Executive Summary: GasBuddy is a platform that tracks and displays fuel prices. Users themselves are the ones who update the prices and thus keep the platform up-to-date. GasBuddy makes money from advertising, referral fees, subscription fees, licensing fees from its white-label software, as well as by selling aggregated and anonymized data. Launched in 2000, GasBuddy … Read more
Executive Summary: CRED is a FinTech company that rewards users for timely credit card bill payments by providing them with exclusive offers. CRED makes money from transaction fees, affiliate commissions, advertising, as well as referral fees from the loans it issues in cooperation with other credit institutions. Founded in 2018, CRED has become one of … Read more
Executive Summary: BandLab is a free social music platform and digital audio workstation that allows artists to collaborate with each other and share their work with listeners. BandLab itself does currently not make any money. Instead, its parent company Caldecott Music Group generates revenue from advertising as well as hardware and software sales. What Is … Read more
Executive Summary: Teavana is a manufacturer and distributor of various tea products. Customers can currently purchase sachets as well as cups distributed in supermarkets. Teavana failed primarily because visitor number in malls, where most of its shops were based, significantly decreased over the previous years. Founded in 1997, Teavana had been acquired by Starbucks for … Read more
Executive Summary: Solyndra was a copper indium gallium selenide solar cells manufacturer that distributed tubular solar panels for commercial rooftop installation. Solyndra failed because its cost substantially exceeded its revenue, due to heightened market competition and declining PV prices, as well as internal leadership struggles. What Is Solyndra? Solyndra was a copper indium gallium selenide … Read more
Executive Summary: ChowNow is an online food delivery company service that allows customers to order food from local restaurants. ChowNow makes money from monthly or yearly subscription fees, setup fees, as well as order fees for its Order Better Network. Founded in 2010, ChowNow has become one of North America’s leading food delivery platforms. It … Read more
Executive Summary: Periscope is a social network that allows users to broadcast and consume live-streamed video content. On March 31st, 2021, Periscope was shut down because the cost of maintaining and expanding the platform was outweighing the revenue that it was generating. What Is Periscope? Periscope is a social network that allows users to broadcast … Read more