So, why do so many start ups flame out? The stats are really brutal with 97% of the crowdfunded companies eventually dying. The data on start up death revealed that 70% of the start up companies fail usually around 20 months after raising financing.
Below are some of the start ups that failed and shut down in 2019.
AIWUJIWU
Aiwujiwu, a Shanghai-based start-up was founded in 2014 to offer an online platform to people looking to buy and rent properties in Tier 1 cities in China.
Tenants can search residential rentals and take virtual tours for most of the listings on iwjw.com. It also connects buyers with individual sellers for second-hand and new home sales on the market.
It ceased its regular operations during the end of January 2019 due to the busy space in the Chinese market.
ARRIVO
Arrivo is a startup company based in Los Angeles, California that was working to commercialize a hyperloop. In November 2017, they moved to a more standard maglov model in that their development plans no longer contained essential component of the hyper loop –the vacumn tube.
It ceased its regular operation in 2019 due to lack of new funding.
CHARIOT
Chariot was a computer shuttle service owned by the Ford motor company. It was set up in the year 2014. The company’s mobile phone application allowed passengers to ride a shuttle between home and work during commuting hours.
It ceased its operations in the year 2019 in February due to poor uptake.
FIFTH DIMENSION
The company developed predictive policing and threat assessment technologies for governments and financial institutions. It was set up in the year 2014. Its artificial intelligence based system can recognize unusual behaviors and spot suspicious criminal activities.
It ceased its regular operation in 2019 as the company had problems with investors.
LIGHTHOUSE AI
Lighthouse designed and manufactured security devices that included vision recognition, emergency notification etc. It was founded in the year 2014.
It ceased all its operations in the year 2019.
MUNCHERY
Munchery Inc. was an online food ordering and meal delivery service that serves parts of San Francisco, Seattle and New York City. It was founded in the year 2010.
It abruptly ceased all its regular operations in the year 2019 in January.
NAYA HEALTH
Naya Health was one of the most top notch startups working on a better pump.it was once a promising breast pump startup. It was founded in the year 2013.
It ceased its operation in 2019 as their pumps cost $1000 and aren’t covered by insurance had stopped working and it had not provided them with adequate support or replacement parts.
POPPY CARE COMPANY
This company provided a platform for connecting families and caregivers. It uses technology to help parents tackle the hardest parts of childcare.
It ceased its operation near the beginning of 2019.
SCHAFT
Schaft, the Japanese robot company bought by Google. It was founded in the year 2012.
It ceased its activities due to failure in finding new buyers.
SOPHIA
The company that sought to people with Life Counselors and mental therapists. It was founded in the year 2017.
It ceased all its operations completely during the beginning of the year 2019.
