True Ventures — portfolio autopsies

Pioneer tech media raised $35M and expanded to conferences and research reports — then Google and Facebook took 90% of digital advertising, eliminating the revenue model

Virtual eyeglass try-on startup backed by Lux Capital that sold to VSP Global for well below its raise.

Built mobile-first support but couldn't outrun the giants.

The mid-market HR platform raised $158M at a $300M valuation before selling to a PEO in a widely considered distressed exit.

The open-source darling of DTC retail quietly abandoned by its corporate acquirer.

Non-invasive glucose monitor startup that couldn't solve the hard physics problem it was built on.

Shopify's native inventory update made Stitch Labs obsolete almost overnight.

Smart workout clothes that were too smart—and too expensive—for their own good.

Unlimited movies for $9.99/month. Math said no.

$60M parking sensor pioneer sold for pennies after hardware costs gutted its margins.

API monitoring pioneer undersold by Postman's freemium wave and acquired below investor expectations.

Real-time ad analytics pioneer quietly absorbed into Snap for a fraction of its promise.

Influencer-curated quarterly boxes couldn't generate enough recurring revenue to survive.

The most beautiful visual storytelling app that no one could figure out how to monetise

Meebo let you use AIM, MSN, and Yahoo Messenger in a browser tab. Google acquired it. Shut it down in 6 weeks.