12 startups that failed this year and took $1.4 billion in VC funding with them
Just because everyone from Ashton Kutcher to Kevin Durant are getting into startups doesn't mean they're all success stories.
After all, nine out of 10 startups will end up failing, and that means the money that venture capitalists put into funding these ideas can disappear too. From analyzing just 12 startups that failed this year, PitchBook found that around $1.4 billion in VC funding wasn't enough to save these businesses.
Theranos, a blood-testing startup, is one of 2018's most notable failures. The company racked up close to $1 billion in funding before questions about the technology and fraud charges against the CEO caused the Theranos to dissolve.
Here are 12 startups that failed in 2018:
Theranos — blood-testing technology
Year founded: 2003
Valuation: $9 billion
Amount raised: $910 million
Read more about Theranos on PitchBook.
Rethink Robotics — robots for manufacturing industry
Year founded: 2008
Valuation: $291 million
Amount VC raised: $150 million
Read more about Rethink Robotics on PitchBook.
Shyp — on-demand delivery platform
Year founded: 2013
Valuation: $275 million
Amount raised: $62 million
Read more about Shyp on PitchBook.
See the rest of the story at Business Insider
Contributer : Tech Insider https://ift.tt/2OO2wf5
Reviewed by mimisabreena
on
Thursday, October 25, 2018
Rating:
No comments:
Post a Comment