Startup shut down is the part of the entrepreneurial eco-system and this fact cannot be denied. As per the study of Oxford and IBM, about 90% of the Indian startups fail to survive the initial five years and got doomed. In the previous year, approximately 29 startups shutdown between January 2016 to August 2016, and majority of them were based on the hyperlocal business model.
In 2017, the trend of closing the operation continued, with 8 startups made their exits. Among all the 10 shutdowns, Stayzilla got more public due to founders legal controversies. Other sectors that were majorly impacted include foodtech, hotel booking, e-commerce, and aggregation. Though Indian government is providing every possible support to flourish the Indian Startup Ecosystem, the chances of every startup getting successful are very low despite funding, mentoring, and service support.
Below are the startups that decided to quit the race in 2017
- Taskbob
Launched in: 2015
Founders: Aseem Khare, Abhiroop Medhekar, Ajay Bhatt, Amit Chahalia
Headquarters: Mumbai
Category: Hyperlocal, on-demand home Services
- Prophesee
Launched in: 2014
Founders: Ishaan Sethi, Harshil Gurha, Jitesh Luthra
Headquarters: Delhi
Category: SaaS
- Splitkart
Launched in: 2015
Founders: Sharique Khan, Monajeet Sinha
Headquarters: Gurugram
Category: Fintech
- Eatonomist
Launched in: November 2014
Founders: Anisha Dhar, Nupur Khanna
Headquarters: Gurugram
Category: Foodtech
- Roomstonite
Launched in: 2015
Founders: Suresh John
Headquarters: Bengaluru
Category: Online hotel booking
- Stayzilla
Launched in: 2005
Founders: Yogendra Vasupal (Yogi), Rupal Yogendra, Sachit Singhi
Category: Hotel aggregator
Headquarters: Bengaluru
- Shopo
Launched In: Relaunched in 2015
Founders: Registered as a separate entity for Snapdeal, acquired in 2013
Headquarters: Chennai
Category: Affiliate marketplace
- Turant Delivery
Launched In: 2015
Founders: Satish Gupta, Ankur Majumder, Siddharth Arora
Headquarters: Delhi
Category: B2B logistics
- Cube26
Launched in: 2012
Founders: Saurav Kumar, Abhilekh Agarwal, Aakash Jain
Headquarters: Delhi
Category: Mobile technology
- Tolexo
Launched In: 2014
Founders: Registered as a separate entity for IndiaMART
Headquarters: Noida
Category: B2B retail and B2B wholesale
At one side the Indian government is clearing the paths of the upcoming startups by providing a platform of Startup India Online Hub to motivate the businesses and entrepreneurs in the developing stage. But as we said earlier ‘shutdowns are the part of the business ecosystem’.
