Startup Failures in 2024

Viral shooter fame couldn't sustain a $1.5B valuation built on a single game.

Paying $800M for Harvard's edX legacy became a billion-dollar debt trap.

The employer health navigation IPO that spent four years proving the model didn't work at scale

The Indian digital insurance unicorn reached $1.1B on embedded policies and found the economics impossible

The AI browser automation startup raised 415M dollars from Microsoft and Google and was effectively acqui-hired by Amazon in June 2024.

Went public at $1.88B, sold everything to Continental for $3.9M — a 99.8% loss in three years.

Argentine agtech marketplace raised $23M to be the Mercado Libre of agricultural inputs in Latin America—then shut down commercial operations in 2024 after failing to achieve marketplace liquidity in a sector dominated by local dealer relationships.

Selling to 7 million farmers sounds massive until you realize each one costs more to serve than they spend.

Developer darling of internal tools, acqui-hired by Airtable after $32M spent.

Enterprise AI helpdesk that got crushed by Microsoft's bundling strategy.

The German AI chip startup backed by SAP and Hewlett Packard Enterprise raised 120M euros and shut in December 2024 after failing to commercialize.

Harvard's quantum networking spinout died waiting for a market that won't exist until 2030.

The Everything Store couldn't get Americans to watch shopping TV on their laptops.

From $7B direct listing darling to 90% market cap wipeout

Turning waste into energy — and $1.2B in value into ashes.

The 'YouTube for podcasts' became just another Spotify tab.

Spotify bought the podcast social layer then killed it to cut costs.

100,000 users, £3M revenue, and zero path to profitability — UK's freelancer neobank ran out of road in 2024.

Supply chain marketplace that Tiger Global backed at peak panic and sold at discount in calm.

Refinancing your debt was a great idea until the regulators and inflation hit at once.

The most evidence-based hiring platform couldn't survive a funding gap.

SoftBank's Latin American vocational bet burned through $43M and 4 years.

An Argentine finlit startup killed by the very inflation it taught people to fight.

The AI blood test startup that couldn't get FDA clearance and pivoted to a crowded RCM market

The electric truck startup that tried to IPO on crowdfunding

3D warehouse robots were too complex, too expensive, and too slow to save a startup burning $3M monthly.

Promised AI-perfect forecasts for everyone else's revenue — couldn't forecast its own survival.

Raised $100M for ZK privacy then shut down the entire team overnight.

Bayzat pivoted so many times it lost its identity and then its funding.

Base editing pioneer from the Broad Institute — stock fell 90% as biotech multiples compressed

35,000 small businesses woke up on Dec 27 to find their accountant had vanished overnight.

73M monthly users in 2022. Raised €60M. Sold to Voodoo for €500K in 2024 — TikTok copied the feature.

Digital mortgage raised $1B+, processed $25B in COVID-era refinancing, hired 10,000 employees — then 2022 mortgage rates hit 7%, refinancing collapsed 80%, 9,000 employees were fired, SPAC valued at $7.7B went public at $5/share

Backed by UK's biggest banks, Bink still couldn't buy customer loyalty.

Weizmann spinout raised $46M on phage therapy hope, collapsed after Phase 2 failure.

India's packaging procurement unicorn hopeful destroyed by MSME bad debt and funding winter.

Spanish e-scooter startup acquired by Getir as a market entry strategy. When Getir exited Spain, Blok's operations vanished with it.

The gene therapy pioneer that spent 14 years and 4B dollars developing cures for rare diseases and became a zombie when payers refused to cover the 2.8M dollar price tag.

The supersonic revival that couldn't find an engine — or the economics to justify one.

An AI appraisal platform whose revenue model was held hostage by the CRE transaction drought.

Built the workforce OS for construction — right as the construction market froze.

The health insurance startup that raised $2.4B, IPO'd at $18, then filed for bankruptcy after losing billions on medical claims

A depression telehealth startup crushed by $400 customer acquisition costs and insurance gaps.

Walmart's delivery OS partner could not survive geopolitical risk and endless enterprise sales cycles.

Polish CI/CD underdog ran out of runway when GitHub Actions made pipelines free for millions.

Restaurant GPO marketplace crushed by its own $180M LBO debt as rates rose.

Co-shopping with influencers sounded great — brands just couldn't measure if it worked.

Pay-per-mile sounded fair until low-mileage drivers proved to be the wrong risk pool.

The Indian edtech that became the world's most valuable education company — and collapsed under $1.2B in unpaid debts

Kushner's real estate tech platform sold for pennies as CRE market imploded

Isabelle Kenyon raised $123M to build a doctor-supervised GLP-1 + coaching metabolic health platform. $800/month drug costs consumed subscription margins. Shut all patient operations March 2024.

Behavioral biometrics pioneer that Goldman backed but the market couldn't scale.

Science-based carbon advisory met the brutal reality of clients canceling sustainability budgets.

AI for seniors met the harsh reality of slow hospital sales and expensive hardware

The $8.5B cap table management platform that lost enterprise clients after a data misuse scandal revealed a rep had used client equity data to solicit competing investors

The Alzheimer's drug that hit $4B on manipulated data — SEC consent order, CEO resignation, open investigation

UK's AI home care unicorn clipped by NHS funding cuts and a costly German expansion.

ZoomInfo's $575M acquisition became a slow-motion product sunset

Battery supply chain traceability startup died when regulation it depended on was delayed.

Digital twin startup for cities couldn't compete with GIS giants and ran out of cash.

The $975M Atlassian-Loom deal made Claap's business model obsolete overnight.

Zero fees sound great until you discover workers won't switch their direct deposit for you.

The $2.6B revenue platform that couldn't forecast its own revenue collapse.

The computer vision pioneer that hyperscalers commoditized — when cloud giants bundle vision APIs for free, the market disappears.

Contract clause automation commoditized before Series B ever arrived.

A marketplace nobody wanted to join—least of all the vendors with the data.

Australia's best-funded online tutoring startup burned AUD 80M before selling for AUD 2M.

500K users in 60 days, zero sustainable revenue, dead in 15 months.

Barcelona DTC florist raised 75M EUR and was named Spain best startup in its sector — entered insolvency in 2024 and sold to a creditor for 1M EUR, a 98% value destruction

Compensation benchmarking SaaS hit a wall when Big Tech stopped hiring entirely.

Built for the remote-work boom, buried by the RTO wave.

Buenos Aires veterinary telemedicine raised $350K — Argentine inflation 140%+ reduced discretionary pet spending; owners postponed even phone vet consultations; insufficient consultation volume to sustain

The last-mile commerce platform serving rural Kenya raised $52M and shut down in July 2024, leaving 50,000 agent entrepreneurs without their business model.

Belgium's premium connected e-bike startup laid off 60%+ of staff as hardware margins and supply chain chaos destroyed the business case

India's farm data pioneer ran out of runway trying to sell SaaS to smallholder farmers globally.

GM's $15B robotaxi bet — ended by one car dragging one pedestrian 20 feet

The AI cybersecurity unicorn IPO'd at £2.3B and was taken private at a major discount after short-seller attacks

The $5.7B SPAC neo-bank that became a 97% stock collapse cautionary tale.

3D printing for the factory floor. The factory floor wasn't buying.

GDPR consent management darling crushed by OneTrust commoditization and stalled Series C.

The web knowledge graph AI — LLMs made its core value proposition available for free.

The BI unicorn that spent $800M to build a category already owned by Tableau and Salesforce.

The virtual watercooler that dried up when budgets tightened.

LiDAR robots caught every construction defect except the one in the business model.

The conversational marketing pioneer raised $107M at $1B and was acquired for a fraction in a Salesloft fire sale

Uber paid $1.1B for on-demand alcohol delivery in 2021. Shut it down in 2024 because Uber Eats already did the same thing.

Google and Reliance's quick commerce bet that couldn't crack delivery unit economics in nine years

Ocean carbon removal startup that sank under regulatory and market headwinds.

Kaszek's peer-learning bet expanded across 8 countries and sold for pennies.

AI unicorn in talent intelligence that couldn't demonstrate enough ROI to justify unicorn pricing.

A $380M green hydrogen bet ended when institutional capital fled the sector entirely.

The company behind Moxie, the AI social robot for children with autism, shut down leaving 10,000 families with bricked devices.

Two cloud lab companies merged to survive, then spent five more years slowly proving robots can't beat bench scientists on cost.

Zinc battery storage for the grid. SPAC at $375M. Sixteen years in and still losing money.

The EV division of Evergrande raised 9.7B dollars, built 14 factories, and delivered fewer than 1,400 cars before the parent company defaulted on 300B in debt.

The Tesla killer backed by a fugitive billionaire — a decade of promises and almost no cars.

A $3.9B farm data unicorn that couldn't translate farmer trust into sustainable economics.

The world's most famous gaming brand went from $725M SPAC valuation to $17M fire sale in 24 months.

The Ocean SUV launched into a sea of defects and dealer disputes

Saving groceries from the bin wasn't enough to save the business.

Splitting rent with borrowed money works until interest rates double your cost of capital.

The Airbnb of warehousing ran out of runway when inventory cycles turned.

Germany's €750M quick-commerce startup sold to Rewe for a fraction of its peak value

Flood insurance data that didn't work during the actual flood.

Bitcoin rewards card that proved crypto enthusiasm doesn't survive a bear market.

Won Salesforce's AI prize, then lost to Zendesk's native features.

SoftBank's digital freight unicorn became a restructuring case when ocean rates crashed.

Processed a billion applications but couldn't scale a billion-dollar business sustainably.

Chicago's upscale corner store for millennials. It closed all 33 locations on the same Tuesday morning with no warning.

Rural India's last-mile hero ran out of road when impact capital retreated.

Career pathing SaaS beloved by Fortune 500s entered administration after US expansion burned its runway.

Israel's cultivated meat champion merged into obscurity as regulatory dreams evaporated.

The customer success category creator that couldn't create enough exit value

Driverless trucks on fixed routes couldn't fix the problem of Walmart walking away and regulators stalling.

A Discord rival that built half a million communities but couldn't charge any of them.

The $11.8B q-commerce giant that conquered Europe then retreated to Istanbul

The $11.8B quick commerce titan that conquered Gorillas and Blok — then exited every European market in months.

Turkish q-commerce pioneer that pioneered 10-minute grocery delivery — reached a $12B valuation and expanded to 9 countries, then executed multiple mass layoff rounds and exited every market outside Turkey in 2024.

The autonomous driving startup that raised $220M targeting highway self-driving — shut down in April 2024 after failing to find an acquirer as the AV industry consolidated around Waymo and Tesla

The biological platform company that would program cells like software. The cells didn't scale like software.

GM's $10B robotaxi bet collapsed after a dragging incident and a cover-up destroyed trust.

Taiwan's battery-swapping EV scooter network. SPAC at $2.35B. Going concern warning in year three.

Japan's most lovable robot couldn't make its creators love the unit economics.

Grab's digital bank dream burned SGD 300M chasing customers it already had in its app.

Raised $320M to beat NVIDIA at the edge. Three layoff rounds later, the edge won.

Bill Gates-backed produce freshness startup wilted when food supply chains stabilized.

Bill Gross's AI-powered solar furnace. It hit $2B in hype. Then it wound down operations.

Cooling air couldn't cool the burn rate on this energy storage pioneer.

Automotive-focused ATS collapsed when rising rates crushed car dealership hiring budgets.

FMCG shelf optimization AI that optimized itself out of existence when its anchor client walked away.

Hydrogen's supply chain innovator collapsed when green hydrogen economics imploded.

Australia's most efficient electrolyzer startup ran dry when the hydrogen economy stalled.

Finland's SAR satellite pioneer hit by commercial market slowdown and deep restructuring

Europe's KYC champion swallowed by the automation wave it helped create.

MIT's tabular AI star couldn't outforecast SAP in the enterprise — sold to Scale AI for a fraction of its value.

Restaurant loyalty SaaS swallowed whole by POS giants giving it away for free.

Microsoft paid $650M for the AI team — then the company they left kept the money

From $1.4B SPAC darling to 97% stock collapse in three years.

Insuring Uber drivers sounded like a goldmine until the loss ratios hit 110%.

Dominican Y Combinator fintech dismantled by a regulator after onboarding 11,000 investors without a license.

The design platform that Figma made obsolete

Europe's quantum darling hit the commercialization wall as the funding winter arrived.

The UK SME lender that raised £200M+ but couldn't escape rising bad debt in the post-COVID reckoning

The studio behind Harry Potter: Hogwarts Mystery and Cookie Jam filed Chapter 11 in 2024 — $480M in claims, 900 employees, and a lesson in debt-financed mobile gaming

Norwegian game-based learning platform valued at $7B at IPO—taken private by Goldman Sachs at a 94% discount.

A $280M blood disorder biotech crushed by a competitor already approved and dominant.

An Earthshot Prize winner that couldn't escape the fatal tension between impact and profit.

Built edge AI chips for China's boom market — then US export rules killed the dream.

Built for Korean semiconductor supply chains — then US export controls rewrote the rules every 6 months.

The Indonesian BNPL pioneer raised $270M but couldn't escape high default rates in underbanked markets

Fractional rental shares for $5 — until the platform froze withdrawals like a crypto exchange.

One failed trial erased $200M and a decade of Friedreich's Ataxia hope.

The music recommendation pioneer with 10M scrobbling users was acquired by CBS for $280M — then CBS never invested, Spotify built the same recommendations, and CBS sold it for a fraction of the price

The HR platform that tried to put AI workers on its own performance management system

Expanded too fast, too far, funded by a peak-market bet that didn't pay off.

When tech companies stop learning, their edtech vendors die first.

The AI insurer that discovered that even robot underwriters can't escape actuarial math.

Built a moat around contract AI, then ChatGPT filled it overnight.

A photonic AI chip startup discovered optical computing still can't beat Nvidia on price-performance.

Germany's premium digital wealth manager ran out of wealthy believers.

Overstated lithium recovery rates by 33 points — Argonne's tests killed the Series B.

Maersk's freight bet shrank from 800 to 200 employees as the market refused to recover.

The warehouse automation startup that rode the COVID e-commerce boom to a $2 billion valuation — then filed Chapter 11 in March 2024 when post-pandemic fulfillment demand normalized and its capital-intensive model couldn't adapt

1.2 million players loved the game but none would pay enough to keep it alive.

The teen prodigy's lidar company — from $8B SPAC to near-zero in three years

Rick Klausner's star-studded cell therapy company raised $800M, IPO'd at $25, now trades at $1

Built the best test prep tool for tests universities decided to stop requiring.

Pax Dei launched with a16z backing and lost 90% of players in weeks.

Built the perfect TCFD compliance tool for regulations that kept shrinking or not arriving.

'Roblox for adults' raised $100M and never found its audience.

The open-source Slack alternative — caught between Microsoft Teams free and Slack's mindshare.

May Mobility's autonomous shuttles averaged 5 riders a day — not even close to commercial viability.

The Apple Store of cannabis burned through $500M and filed bankruptcy

India's fastest unicorn. Built a D2C empire in six months. Spent the next three years undoing it.

European metals marketplace that processed €200M GMV before the steel slump killed it.

A $1.7B parking tech bet drowning under acquisition debt and slower-than-promised AI rollout.

The privacy social network that became a refugee camp for banned communities — not a mainstream alternative.

The luxury fashion e-commerce pioneer that invented the trunk show pre-order model raised 345M dollars and filed Chapter 11 in June 2024.

A small indie publisher absorbed by a struggling parent couldn't survive 2024's gaming downturn.

UK neobank for migrants and the underbanked raised £130M over 9 years. Couldn't reach profitability. Shut down September 2024.

The lab-grown meat pioneer stalled on costs and EU red tape after a decade of promise.

The $1.7B apprenticeship platform cut 30% of staff as enterprise edtech budgets tightened

Built personalized web dashboards with 20M users — acquired by Dassault Systèmes for corporate analytics while Google shut iGoogle and Facebook News Feed replaced the consumer homepage category

A beloved MMORPG franchise couldn't survive being grafted onto a blockchain nobody wanted.

Pivoting into aerospace defense unlocked impossible regulations and killed the company.

Hydrogen trucks that existed only on slides

Autonomous fulfillment robotics that ran out of runway before the market arrived.

The Indian B2B agritech unicorn backed by Tiger Global and Walmart reached $1.6B then couldn't fix fresh produce margins

Sharia-compliant digital banking for global Muslims — a real market need that couldn't find enough customers fast enough.

API security unicorn sold to Akamai for half its peak valuation after CISO budgets froze.

Hit #1 on App Store, lost 80% of users within 90 days.

The carbon accounting startup that couldn't survive the ESG backlash and market crowding.

The battery startup that was supposed to free Europe from Chinese supply chains. It couldn't make batteries fast enough.

Award-winning seaweed packaging dissolved before restaurants would pay the premium.

Tried to bring Chinese live commerce to sneakerheads. American screens didn't convert.

Winning awards at Davos doesn't pay the bills when HR can't measure your ROI.

Brazil's SaaS acquisition rollup that discovered the hard way that buy-and-integrate is harder than buy-and-pray

India's electric scooter giant — disrupted by its own quality crisis before competition could.

UK's B2B mental health platform couldn't make the employer-pays model work at scale

$530M raised. Sold to Entrust. Price undisclosed — and that says everything.

iBuying pioneer raised $1.9B and went public at $18B SPAC valuation — 2022 mortgage rates hit 7%, lost $1.4B in Q3 2022 alone on inventory purchased at 2021 prices, $18B valuation collapsed to $700M by 2023

Hyperspectral satellites in orbit, but the paying customers never arrived.

The curated tech job board that the hiring freeze turned into a ghost town.

Rockwell paid $530M for an autonomous robot company then shut its consumer division a year later.

The activewear brand Mickey Drexler backed with his personal reputation — destroyed by founder Tyler Haney's internal turmoil, a damning Business Insider expose, and a bankruptcy sale for $3 million

Brilliant satellite tech, wrong underlying asset: when the forest credits burned, so did Pachama.

Personalized cancer T-cells at $500K each — the math never worked.

A $1.4B companionship unicorn that burned bright and collapsed when Medicare scrutinized social care billing.

No-code data pipelines for non-engineers, disrupted by AI before reaching scale.

Parametric insurance that triggered payouts—just not for the right losses.

Penn Medicine gene therapy spin-out — IPO at $18, fell to $0.50 after trial failures

a16z-backed, celebrity-endorsed, Lucy Guo-led. Still couldn't find product-market fit in creator tools.

The carbon API startup that API'd its way into a market that no longer existed.

Facebook and Salesforce backed this community college upskilling play — then quietly walked away.

Fee-free B2B payments promised blockchain disruption but burned cash before breaking even.

India's largest-ever IPO became its most spectacular first-day crash then lost its banking license

Built the right community, couldn't build the right business model around it.

When Meta and Adobe build your product for free, your startup is over.

Captured $100M in funding and the activity data of the Fortune 500 — then Salesforce captured the market.

The Dauntless studio raised $100M to compete with Monster Hunter and was shut down by its own parent company

AI copywriting pioneer for enterprise email, commoditized out of existence by ChatGPT.

The $135M Berlin presentation software startup crushed between Canva and AI-native competitors

Climate scenario modeling for mandates that courts and politics refused to mandate.

Argentina's card issuing infrastructure startup strangled by the BCRA's fintech restrictions

Predicting arrivals when the carriers gave the data away for free.

Built on a tax loophole — one policy change erased the entire business model.

ArenaNet's founder shut down 70 employees in one day with zero severance.

UAE's scrappy BNPL player was outgunned by better-funded rivals and rising rates.

The construction site SaaS that couldn't make Indian contractors pay for what WhatsApp gives for free.

Economic signal forecasting killed by the most economically unpredictable era in decades.

Government NLP platform ran into a budget freeze and Palantir's legal army simultaneously.

Math class in VR — but schools couldn't afford the hardware refresh cycle.

Procurement SaaS couldn't outrun Coupa and Ramp in the race for mid-market CFO wallets.

The $1.7B product management unicorn that the market didn't need at that price

The $665M photonic quantum bet that restructured as timelines stretched to 2030+.

90% reimbursement sounded generous until veterinary inflation made it a death sentence.

Great product, wrong market ceiling — couldn't climb to enterprise-scale contracts.

The async work OS that couldn't find its place between Notion and Slack.

A quantum software darling backed by Goldman and Airbus that quietly gave up on quantum.

Blast AI that overestimated savings by 4x and triggered compliance incidents at Kiruna.

A Gen Z therapy alternative that raised $18M then shut down declaring the mental health app market 'broken'.

Fourteen years and $80M couldn't turn mobile top-ups into a viable super-app.

AI sales copy tool killed when every CRM added a free AI writer.

The internet video pioneer that built 20 years of fandom and was shut down by Warner Bros in 5 minutes

Oracle and SAP built their sanctions tool natively — and took 60% of the client base in one product cycle.

Free tutoring for all is noble until the philanthropists' priorities change.

B2B BNPL for inventory purchases collapsed when e-commerce brands stopped paying back.

The digital health platform that went public via SPAC at $3.9B and was delisted after a 98% stock collapse

European supply chain visibility leader raised €120M and ended up absorbed by the American rival it was fighting.

The Tier 2 kirana distributor that fought Udaan and Jio and ran out of money paying its own staff.

Micro-insurance for the masses — priced for growth, not survival.

Tally counted every item on every shelf except the months of runway it had left.

The mobile esports SPAC unicorn — discovered that real-money gaming has regulatory and CAC problems that don't scale.

Five years of development erased in a single publisher phone call.

The knowledge wiki that got caught between a $10B Notion and a resurgent Confluence.

Costa Rican lending app survived COVID only to be destroyed by inflation and a regulatory probe.

Europe's BaaS darling discovered that regulators care more about AML than growth metrics.

Corporate card unicorn-hopeful drowned in a sea of identical competitors.

PO collaboration marketplace squeezed out by SAP Ariba and enterprise procurement suites.

Precision mental health for employers raised $450M — then the employer benefits freeze hit the same category that made Lyra cut 30%

India's remote HR suite that couldn't stand out in a crowded market.

The enterprise CXM unicorn that IPO'd at $7.7B and compressed 75% as multiples normalized.

The company that open-sourced Stable Diffusion and disrupted the entire creative industry — then collapsed into governance chaos, unpaid employees, and a founder resignation when its $4B valuation met operational reality

A $1.3B warehouse unicorn discovered that owning physical assets kills software-company multiples.

Promised to charge your EV in 5 minutes. Took 12 years and $200M to prove it couldn't scale.

Sold tomorrow's regulatory mandate today—but tomorrow never came.

Claimed AI beats McKinsey — clients gave it an NPS of 4.

Trained Walmart's 1M workers in VR — then couldn't find a buyer.

Built the rails for a metaverse train that never left the station.

Community esports became in-game ads became metaverse hype; the stock fell 99%.

The MIT-founded scooter company that built the safest vehicle — then ran out of money

Insuring tech startups seemed smart until every client filed a cyber claim at once.

Great Product Hunt launch, wrong unit economics — 800 users at $12 ARPU doesn't build a company.

Built for Germany's supply chain law — but German SMEs chose Excel over SaaS.

Even $100M couldn't make the embedded insurance math add up at Sure.

The grocery retail media darling squeezed out by the giants it was built to serve around.

Built the Moody's for carbon credits just as the entire market stopped buying carbon credits.

Even a $83M war chest couldn't outlast corporate indifference to pay equity.

Smart thermostats ran out of heat

Built the rails for live commerce in America — then the trains stopped coming.

Egypt's first social payment app raised $20M then ran into CBE regulation and currency controls it couldn't survive

A French climate data champion steamrolled by a better-funded American competitor.

The cloud-native core banking platform hit by a funding crunch and deep restructuring after a $2.7B valuation

Raised $3.4B to buy Amazon FBA brands. Became the fastest company to reach $1B valuation. Filed Chapter 11 in 2024 when the roll-up math stopped working.

Europe's most-funded e-scooter startup raised €200M and merged with Dutch rival DOTT in a distressed deal when both ran out of runway.

A German AI estimating tool outpaced by entrenched US incumbents in its home market.

Open banking infrastructure that built the rails but couldn't get enterprise trains to run on time.

The Philippines' first digital bank raised $131M and found Southeast Asian neobank economics nearly impossible

A $500M enterprise automation unicorn undone by budget freezes and incumbent competition.

€34M and 350 employees weren't enough to crack the European helpdesk market.

The TikTok killer backed by rappers — revenue claimed $100M, auditors found $600K

9,000 chargers deployed but couldn't charge its way to profitability.

MIT-born factory floor no-code platform ran out of runway when industrial spending froze.

Forty percent of Tuza Finance's loan book in hospitality turned Rwanda's tourism slump into a death sentence.

Elon paid $44B for Twitter — analysts value X at $12B

The beautiful form builder — hit the PLG ceiling when Google Forms remained free.

Unity retroactively changed pricing on 3 million developers — and lost its CEO

FDA-approved cultivated chicken that cost more to make than the rarest Wagyu.

Climate-forward urban planning tool shut down as government tech budgets evaporated.

Airbnb for people who hate Airbnb's service quality. 17,000 employees later, Chapter 11.

Finland's high-end VR headset maker for enterprise cut half its staff as the metaverse hype cycle collapsed

Oracle released a free version of VaultShift's entire business.

Gig delivery math never worked — $170M couldn't fix the unit economics.

AI skills testing startup that couldn't survive when LinkedIn and HireVue ate its market.

Pre-owned luxury's poster child burned through $330M trying to authenticate and scale simultaneously.

Canada's telehealth darling for pets that discovered post-COVID demand was a mirage.

Mexico's underbanked credit card neobank survived COVID but not rising interest rates and 18% delinquency.

OpenAI gave Viable's enterprise customers the tools to fire them.

The German electric air taxi startup that raised €450M from Geely, Mercedes-Benz, and Intel — filed for insolvency in September 2024, one certification milestone away from its first commercial passenger flight

Southeast Asian corporate card that spent $1,800 acquiring customers worth only $900 annually.

The Swedish EV truck startup that built a safer city delivery truck — and ran out of money before scaling

$305M and a novel AML concept, but modest Phase 1 responses made the pivotal trial unaffordable.

AI meeting tool killed the day Zoom made its AI features free for all users.

Online used car marketplace IPO'd at $2.5B in 2020. Shut down e-commerce operations in January 2024 after $800M+ in losses.

Barcelona's EV charging champion on the NYSE. The going concern warning arrived three years after the IPO.

Digitizing trade documents for an industry that still loves paper.

India largest crypto exchange lost 235M dollars in a North Korean hack in August 2024 and suspended withdrawals for all 15M users.

Australian expense card startup crushed by global giants entering its home market.

The insurtech unicorn that reached $4.5B and then imploded under underwriting losses

Methane-eating microbes for farms: scientifically sound, commercially impossible to sell.

Discount marketplace IPO'd at $14B then sold for $173M three years later

Amazon for the price-sensitive: $1 items shipped free, no questions asked

Opioid addiction telehealth champion undone by Medicaid reimbursement cuts and unsustainable costs.

Nineteen years of textile recycling R&D ended in administration, not revolution.

Six million users across 95 countries couldn't generate enough revenue to sustain an AI therapy chatbot.

The celebrity AI startup with a $24B valuation — still searching for the product differentiation that justifies it.

The carbon NASDAQ that watched its entire asset class evaporate in 18 months.

Yik Yak relaunched in 2021 with new funding and moderation — the same anonymous local social harassment problems returned and the product shut again in 2023

The French insect protein unicorn raised 372M euros, built the world largest insect farm, and entered receivership in 2024 as energy costs and market adoption destroyed the business case.

The UK gig-economy insurer that couldn't make commercial vehicle insurance profitable at scale

Design-to-developer handoff tool erased by Figma Dev Mode

A $200M acquisition fell apart over 8% bad loans — then nothing was left.

India's BNPL pioneer — Walmart tried to acquire it, then walked away, then it shut