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Startups That Failed In 2011
Fremont: A year wherein the world economy played see-saw, we saw several startups emerging with great new ideas. However, the year also portrayed the failure of some good ideas due to varied reasons. Here are five such startups that failed in 2011.
Value Me
Value Me was founded to let the customer know how much profit the companies they used made from them. However, the idea became a big flop and the firm was shut down. The customer problem is real and big enough so the team came up with some experts to calculate the value of their customers. They build a complex mathematical model that worked out what the customer worth to each company they used. But the mistake they did was they did not test the product with the customers, neither they started the test at the early stage of the development of the product. The service provided by Value Me became useless as they could not do the negotiating with the businesses.
