Company: Flashdoor Internet Services Pvt. Ltd
Area of Operation: Online laundry
Founded: July 2015
Founders: Ankit Agarwal and Himanshu Gupta
Funding: Raised undisclosed amount in angel funding in November 2015
Investors: Former Flipkart executives Ankit Nagori and Sujeet Kumar, Traxcn Labs
Business Model: On-demand laundry service platform Flashdoor had a curated marketplace model and operated its own logistics service to collect clothes from customers. The startup recorded 1,500 transactions a month in November 2015 and planned to take the count to 30,000 by March 2016.
The Collapse: As it faced increased competition and low returns, the startup started experimenting with various business models before finally deciding to close down operations. “We have moved on from Flashdoor. We had tested various business models and the return on investment was not that great. And profitability was not possible until we reached a large scale which also required us to invest a lot of money in the business,” said Ankit Agarwal, co-founder, Flashdoor. “We thought we will shut it down and figure out something else to do.”