Lightspeed Venture Partners — portfolio autopsies

India BNPL neobank backed by Tiger Global at $1.5B that merged with North East Small Finance Bank in 2023 after RBI rules eliminated its standalone fintech model.

Jessica Alba's natural baby products company that created a market only to watch everyone enter it

Mortgage and banking technology SaaS company that went public at a 4.3 billion dollar valuation and watched revenues collapse 80 percent when US mortgage origination plummeted.

India's social fashion pioneer ran out of style before it ran out of road.

Walmart bought the DTC menswear pioneer for $310M in 2017 — and sold it for $75M in 2023

Anonymous confessional social network raised $61M from Sequoia. Peaked at 25M monthly users in 2014. Reddit and TikTok absorbed the use case. Shut September 2022.

Jessica Alba's 'honest' baby products brand IPO'd at $1.5B and lost 80% of its value in 18 months

The personal styling subscription that peaked at $10B and fell 97% as fast fashion made curation irrelevant

The hardcore Facebook strategy gaming unicorn — peaked with the platform, failed with the platform.

The $1B Hadoop unicorn that the cloud giants made obsolete before it could go public

The original gig economy marketplace — saved by IKEA after a near-fatal pivot nearly destroyed it.

Amazon's $175M investment. GroupOn's $0 acquisition. Daily deals were a mirage.