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Flashback 2016: Funded startups that shut shop

Tuesday, December 27, 2016 | More »

When an unfunded, rookie startup shuts shop, not many are surprised. But one can sense the upheaval when well-oiled, promising startups begin to fail–in that sense, 2016 was a forgettable year for India’s tech startups. At least 32 well-funded tech startups folded up in 2016, compared to...

VC money

Startups looking to move on rather than burn VC money

Earlier this year, Frankly.me, a video social network decided to shut shop just a few weeks after it raised its pre-Series A funding. The hard decision also involved returning most of the capital raised by it back to its investors. Nikunj Jain, one of the co-founders of Frankly.me, says the product ...

23 November, 2016 | More »


Exclusive: Anupam Mittal-backed fashion rental platform Blinge goes defunct; looks at a pivot

Fashion rental platform Blinge is looking at a pivot after shutting down the company’s core operations, according to two people familiar with the matter. “We are actually looking at a pivot, because we realised that the market for fashion rental was not lucrative enough,” said co-founder o...

7 November, 2016 | More »

Arnav Kumar, CEO, GoZoomo

Used-car marketplace GoZoomo shuts shop, returns remaining capital to investors

Youngmonk Technologies Pvt. Ltd, which runs online marketplace for pre-owned cars GoZoomo, has decided to shut down operations as the founders failed to carve out a business model with sustainable unit economics. Confirming the development, CEO Arnav Kumar said the company has decided to return the ...

26 August, 2016 | More »


Used-car marketplace GoZoomo sacks 130 people

Youngmonk Technologies Pvt Ltd, which runs online marketplace for pre-owned cars GoZoomo, has laid off nearly 35 per cent employees barely a year after starting up. The development was first reported by YourStory, quoting CEO Arnav Kumar. As per the report, GoZoomo sacked 130 employees in its data...

4 January, 2016 | More »