Mobile apps are getting more and more popular with every passing day. However, as per reports, around 80-90% of mobile applications available in the app stores are abandoned after a single use. It shows how difficult it is to Keep Mobile Users Hooked.

No doubt that designing and developing a mobile app is a tedious task but what’s more troublesome is scaling. Even after you launch your app and it gets traction, there is no guarantee that it will sustain itself in the ever-evolving mobile app market.

There are many such failure examples in the mobile app industry and today we are going to discuss one of them called Quibi. It is a classic example of a mobile app that failed despite the initial hype.

Launched in 2020, the app raised an impressive $1.8 billion and gained significant traction in a short period. However, it did not last long. The story of Quibi is a fascinating success and failure tale that entrepreneurs must explore before launching their own apps.

So, let’s get started to know what happened and what you can learn from its story.

What was Quibi?

Quibi was a short-lived American mobile video streaming application that generated content to stream only on mobile devices. It was founded in August 2018 in Los Angeles as NewTV by Jeffrey Katzenberg but was later renamed Quibi after a relaunch in 2020.

In a short span of time, the service raised $1.8 billion from investors. However, the app failed to sustain itself and was shut down permanently in December 2020. In January 2021, Quibi’s content library was sold to Roku, for around $100 Million. The platform’s flawed concepts and rapid failure turned many heads to its story and provided invaluable lessons for entrepreneurs.

The company was the brainchild of two well-known professionals; one from the tech background and the other from the entertainment industry. It means they were having the best of both worlds needed to develop a video streaming platform. But, things still didn’t work.

The founder of Quibi, Jeffrey Katzenberg, helped turn around Disney’s animation department in the 90s and later he co-founded Dreamworks and headed up its animation department. The CEO of the company was Meg Whitman. Earlier, she was the CEO of eBay and later became the CEO of HP.

Together, they designed Quibi to target people with irregular free time and the business raised more than $1.8 billion under their leadership in just a few months.

Quibi Business Model

As the name itself describes, Quibi means Quick Bites. The app was developed to deliver short-form content videos to consumers who did not have time to watch long series or movies on Netflix. The founders of Quibi aimed to make money using two models – subscriptions and advertising. Let’s understand the app’s working using Quibi Business Model Canvas:

Doesn’t it sound like a great business idea and concept? The app only targeted people who were not having time to watch long-form content on apps like Amazon Prime, Netflix, and HBO. Also, it was designed in a manner that fulfilled the needs of its target audience.

But, then, what went wrong? Let’s figure out the mistakes that Quibi made in our next section.

Also Read: All You Need to Know About How Does Hulu Work: Business and Revenue Model

Why Quibi Failed and What Can You Learn from Its Failure?

It took Quibi mobile app just around seven months to go from one of the most celebrated app ideas to a disgraceful finish, consuming around $1.8 billion of investment from the giants like Alibaba, Walt Disney, and WarnerMedia in the process.

Here are some of the reasons why it happened and what you need to learn:

1. Quibi’s Pricing Wasn’t Justified

When Quibi was released in 2020, TikTok and Youtube both were already popular in the market. And Quibi targeted almost the same customer segment as these leading small video streaming applications.

However, Quibi was not free. It charged $4.99 per month with ads and $7.99 per month without ads.

It means the app charged money for content that users were already accessing for free on popular apps like Youtube and Tiktok. In addition, some of them were also paying for content on apps Amazon Prime, Netflix, and Disney Plus – all of these apps offered much better content than Quibi and charged an equal amount of money. Other popular services like Apple TV and Hulu were even cheaper.

Many experts believe that the set charges were too high for a terrible content-producing app like Quibi and that’s one of the main reasons why it failed. The app also offered a free trial and that was the only reason it got traction in the initial days.

Key Takeaway: Before you launch a product in video streaming or any other industry, be vary of your competitors and their pricing policies. We believe that Quibi didn’t fail just because it was overpriced but because it failed to justify its value to consumers.

Also Read: Business Strategies To Consider From The Top 10 OTT Platforms In The World!

2. The App’s Content Was Not Good Enough

In the video streaming industry, content is king. Because users come to a streaming app to watch something interesting and not to get bored. However, Quibi’s content failed to impress its target audience.

Although Whitman and Katzenberg invested more than $1 Billion in content production, their team failed to produce anything good. As a result, they started mass purchasing the content to create a large library that can compete with the likes of Netflix. However, instead of doing anything good, this approach impacted the content quality of Quibi negatively.

They even bought content that apps like Hulu and Netflix rejected. This content wasn’t even created keeping Quibi’s short-form video content in mind. They simply bought movies and chopped them into pieces to form a series, resulting in a frustrating watching experience for users.

There wasn’t even a single show on Quibi that got hit and the team did nothing about it. On the other hand, competitors like HBO were trying out new strategies every day. When GOT was coming to an end, HBO started advertising its other shows aggressively so that they don’t lose subscribers once GOT ends. They also released and advertised a new show called Chernobyl, which was again a big hit.

Key takeaway: When launching a new product, it is important to create buzz around it to get initial traction. But, what’s even more important is that the product justifies this buzz. If Quibi had even a few hits, the app would have been up and running today.

3. Let’s Put Everything On Pandemic (Justification Inside)

When things don’t go as planned, people often start blaming circumstances and situations. That’s what the leaders at Quibi did, which further made their failure worse. Here is what Quibi’s founder said in one of the interviews:

But, everybody knows that it isn’t true. When people were confined to their homes amid the pandemic, they were having free time like never before. While sitting within the walls of their homes, they had nothing except passing time on their mobile phones. In fact, video streaming is one of the Top Industries that Thrived During the Pandemic.

According to reports, online video consumption in the US was 200% up during the time when Quibi was launched. However, it still failed to get traction. On the other hand, apps like Youtube and Tiktok were thriving at that time. Seeing industry experts stating facts to prove the statement of Quibi’s founder wrong, he himself walked back on his statement and said:

“Simply to blame it on COVID is not fair, and not something either of us (Whitman and him) want to do” – Jeffrey Katzenberg, Founder, Quibi.

Key takeaway: Once you make an entry in the market and become a famous entrepreneur, own everything you say or do. Even if it is a failure, accept it. Because excuses are not for people who want to thrive. It creates a sense of empathy in the hearts of others and works in your favor when you re-enter the market with a new product.

4. Lack of Essential Features

When developing a mobile application, you must decide on its features very carefully keeping your business model and target audience in mind. Quibi not just failed to integrate the essential features in its app, but it also lacked the understanding of its users.

• Content sharing wasn’t allowed

They never understood that when streaming a new movie or series, users like to share it with their friends on social media. As a result, the social sharing feature was missing from the app. The app never allowed users to take screenshots or snippets to share on social media. In other words, they themselves stopped their content from spreading naturally.

• Their USP didn’t work in their favor

Quibi’s major innovative feature or USP was that it provided users with the ability to watch content horizontally as well as vertically on mobile devices. But, that feature was also problematic. It forced everyone who wanted to create content on Quibi to develop it keeping both modes in mind. That was simply another layer of complexity.

But, later on, they also started launching content that wasn’t created for both modes. It resulted in an awful experience for app users and was a major reason behind app failure.

Key takeaway: When selecting the major features of an app, it is crucial to do strong market research so that you do not have to face problems later on. To avoid such blunders, we at Apptunix, always prefer an MVP approach and RAT testing while developing apps.

5. They Didn’t Care About Their Competitors

When Quibi was launched, there were already many popular streaming apps available in the market like Youtube, Tiktok, Netflix, and many others. However, the founders of Quibi always refused to compete with these apps.

While their app idea was based on the fact that people need good quality short-form content to survive, the app’s founders always failed to acknowledge that people are getting that for free and for many years. Quibi didn’t fail because Youtube and other applications existed. But, it failed because the leaders behind the app refused to see those apps as its biggest competitors.

They dismissed the importance of learning from competitors and developing a unique value proposition that would differentiate them.

Key takeaway: Understanding your competitors (direct and indirect) and creating a distinct value proposition is crucial for success in any industry.

Wrapping Up

In conclusion, the story of Quibi serves as a cautionary tale for entrepreneurs who are looking to develop mobile apps. The app failed despite raising $1.8 billion in funding due to a flawed business model and poor execution.

The lesson to learn is that creating a mobile app is a tedious task, but scaling it is even more challenging. At Apptunix, we help entrepreneurs avoid such mistakes and develop successful apps. By following best practices and employing the latest technologies, our developers create apps that deliver value to the users and stand out in the crowded app market. Get in touch to know more about our services and experiences!

Grocery delivery has always been a lucrative market for budding entrepreneurs and investors due to its low investment and high-profit nature.

According to Statista, revenue in this segment is expected to reach $565.30 billion in 2023, with China leading the market followed by the USA and Japan. The number of grocery delivery customers is expected to amount to 164.5 Million by 2027.

No wonder why there are new growing delivery startups emerging worldwide.

If you also plan to create a grocery delivery like the Gojek Clone app, you must know about the market players as well as failures to derive lessons from their stories.

The app Gorillas is one of them – a success or failure, you will get to know by the end of this blog.

With a mission to transform the way people do groceries, Gorillas was once known as the fastest-growing unicorn of the German market. Launched with splashy ads stating “groceries in 10 minutes” in many parts of the world, Gorillas broke all market standards using its dark stores.

But, after a while, things started to change. The Gorillas business model which once created hype in the quick grocery delivery market eventually failed. In this blog, we will discuss what happened and why so that you can learn lessons from the story.

So, let’s get started.

Gorillas Stats and Facts: Funding and Major Milestones

• Founded: May 2020
• Founder: Kagan Sumer, Felix Chrobog, Ronny Shibley
• Headquarters: Berlin, Germany
• Target market: 9 countries including the USA and the UK
• Revenue (2021): $220 million
• Business model: Hybrid

How Does Gorillas Work: The Gorillas Business Model Explained

Initially launched in Berlin, Gorillas is a food and grocery delivery service that expanded to various markets and countries quickly. Gorillas business model provided customers with access to a wide selection of things, such as groceries and alcohol, while charging them a fee for sales and delivery.

But, its working model was a bit different from other Grocery Delivery Apps like Instamart. It made money by buying groceries and reselling them for a profit. Let’s first understand Gorillas business model in detail:

• Gorillas run a network of dark stores and make money by buying grocery products and selling them for a profit. They try to maximize revenue generation through efficient inventory management and great coordination between the staff.
• They own their warehouses so couriers do not need to search random store shelves to fulfill orders. That’s also why their delivery times are faster than other apps.
• The app also charges a small delivery fee to deliver groceries anywhere in less than 10 minutes. However, it is not the company’s main revenue stream. They rely on the dark store model as their major source of revenue.
• Unlike other grocery delivery apps, Gorillas employ its riders full-time and also provide them benefits like health insurance, fixed employment contracts, paid vacation, and employer-financed accident insurance.

Doesn’t it sound like an exciting and disruptive business model? Actually, it is. The founders of Gorillas did something out-of-the-box which nobody was doing, got traction initially but almost failed in the end. Let’s figure out what mistakes they made and what can you learn from them.

What Went Wrong: Why Gorillas Grocery Delivery App Is Closing?

Every failure tells a strong story. It may not be inspirational but it is full of insights and learnings. Gorillas’ failure also taught the world many lessons. Let’s look at some of the reasons why it failed to learn from its failure story.

1. They Burnt Cash

According to various reports, Gorillas is a cash-burning venture and that is the major reason why it failed to attain profitable status in the market. After being founded in 2020, the company opened more than 200 dark stores by 2022, in just two years.

It is also said that they burnt all the $1.3 Billion the company raised by 2022 and started looking for new funds after that. In 2022, the company lost more than €1.50 for every €1 it made in net revenue. The marketing spending of the company averaged €8 for each order placed by customers and that is too much for a Grocery Delivery App like Gorillas.

The focus of leaders at Gorillas was always hyper-growth instead of probability. However, once investors realized that the company wasn’t profitable and was just burning cash, they stopped pouring money and the venture eventually failed.

2. Gorillas’ Business Model Was Problematic

The major downside of the Gorillas business model was that it required upfront investment to build warehouses and purchase products in bulk. In addition, because it hired drivers on a full-time basis, they were required to be present on the roads all the time.

Other on-demand mobile applications that hire drivers on contract do not pay them when their services aren’t required. This way, the cost is saved and drivers also get the flexibility, resulting in a healthy work environment.

But, that wasn’t the case with Gorillas. They spent all the money they had without thinking about profitability and failed when there was no more money to spend.

3. The Post-Pandemic Effect

After the arrival of the pandemic in most parts of the world, it made complete sense to rely on Grocery Delivery Apps. Because people were not allowed to leave their homes and social distancing was imposed by the government, these apps got prominence fast.

Many instant grocery delivery apps emerged and got successful during that time. For example, GoPuff expanded to more than 600 US cities and apps like Getir and Gorillas also rose to prominence. Investors also poured money into these startups thinking that online grocery ordering will turn into a habit now. No doubt that the competition was immense during that time as well but so was the demand.

As a result, these apps started burning cash to leave each other behind by providing countless offers and discounts on products and perks like free delivery. However, after COVID restrictions were lifted, things started to change. People started getting back in-store and the demand for delivery decreased.

The same thing happened with Gorillas. The team burnt cash in expansion when demands were high and they went too far where maintaining the equilibrium seemed impossible.

Also Read: 7 Tips For Entrepreneurs to Hit the Ground Running Post-Pandemic

4. Bad Employee Management

Another reason why Gorillas failed is its bad employee management policies. Many workers of the company openly criticized the working conditions of Gorillas. They complained about high delivery pressures, inadequate equipment, and heavy deliveries that lead to health problems. Also, workers said that they were not getting paid right and on time.

Furthermore, the company fired many of its employees for participating in a strike against the bad working condition of the organization. When the company started improving its conditions, it realized the harm that bad working conditions caused very late.

An organizing committee called the Gorillas Workers Collective emerged and they started organizing strikes against the company. That’s also how the world started losing faith in Gorillas.

5. They Sold their Operations to Competitors

There are many examples of ventures in the mobile app market that boomed after their acquisition by others. However, even that didn’t happen in the Gorillas’ case.

The reason is that it is sold to its biggest competitor, Getir. Now, one out of the two would have to end its operations in the markets where both are operational. Obviously, the weaker one would have to lose the market and that is Gorillas. So, the app is likely to close its operations soon.

Gorillas is a story of success as well as failure. In the Quick Commerce market, Gorillas is the fastest growing and also fastest failing company. After its acquisition by Getir, a number of questions are coming to the mind of budding entrepreneurs who plan to enter the grocery delivery market. Is the industry dead? Or, what should they do to make a profitable business?

Let’s find answers to all these questions.

Is Quick Commerce Dead: What Should New Players Do To Thrive in the Market?

It is true that after the pandemic many leading quick grocery delivery startups have closed their operations in many parts of the world. But, does it mean young players should maintain a distance from this model?

Well, the answer to this question is not a direct Yes or No. Not all the upcoming players in the quick commerce market will fail and neither all of them will succeed. Your approach and the way you deal with challenges will decide the success and failure of your startup.

But, one thing is sure. This era belongs to convenience at speed. If you manage to provide it while maintaining profitability, you are destined to succeed. There are many successful players in the market as well. To stay profitable, they are following approaches like:

• Increasing average order value (AOV) by targeting rich consumers and offering expensive products
• Introducing customer pickup facilities to lessen the logistic pressure
• Providing a schedule delivery option to better manage the logistic challenges

Here is what Nazim Salur (Getir’s founder) said in an interview about the future of quick grocery delivery and quick delivery startups in the world:

“Markets go up and down, but consumers love our service and convenience is here to stay. The super fast grocery delivery industry will steadily grow for many years to come and Getir will lead this category it created 7 years ago”

It is as simple as that – every market has its own ups and downs. However, it doesn’t mean the end of an era or service. Gorillas’ business approach was wrong and the team made some mistakes because of which they failed to continue their operations.

New startups in the industry can thrive if they follow a solid business plan, choose their stock carefully, set up local hubs, and ensure that they have the right software in place to provide consumers the convenience they desire.

Also Read: Headless Commerce for Online Grocery Retailers: Is It Worth the Hype?

The Key Takeaway

The team at Gorillas completely understood what their target audience needed – convenience at speed. That’s why their expansion and success rate was massive. On top of it, the pandemic contributed to the situation and the app rose to prominence fast.

But, it looks like they weren’t able to handle this massive success. Their huge success would not have been momentary but a long-lasting journey, if they concentrated more on profitability, customer support, and employee management as compared to expansion.

At the 2009 I/O conference, Google Wave was a tool unlike any other. Before the remote-work boom, it was not only the first unified workspace and collaboration platform but also attempted to address many of the issues we still have today.

And yet Google Wave failed in less than two years.

It’s not surprising that the platform ended up being a minor blip in the annals of SaaS innovation when considering how it was implemented. Only a few of its issues included a lack of a clear emphasis on the product, positioning issues, and a poor release schedule.

Read further to know more about the reasons for Google wave failure.

The competition in the mobile app development industry is fierce! With a new app releasing every single day and the market being already occupied by giants, it is hard for some to survive and win the space. Today we will talk about one such app that did not survive, the Rdio music app.

Once, it was a big name in the music streaming industry and competed directly with Music Apps like Spotify. While earlier Rdio was said to be superior to Spotify, it failed in the long run. On the other hand, Spotify is still growing with all leaps and bounds,

Now, the matter of the discussion is how did it happen? In this article, we will look at different reasons behind the same and what you can learn from its mistakes.

But, first, let’s get the basics clear.

What Was Rdio: The Best Music Streaming App of the Past

Rdio was one of the first innovative music streaming services of America. The goal of its developers was to build a product that is flawless, beautiful, and social. One of the most engaging and innovative features of the app was to show users what their friends are listening to and provide recommendations based on the same – their friend’s playlist.

It provided Ad-free subscription streaming service in more than 80 countries. The brand served users through a website and a mobile app for iOS, Android, BlackBerry, and Windows Phone, which used Rdio’s servers to stream music or download it for offline streaming. It also provided a native desktop client app for Windows and OS X, as well as a Windows Store app.

Rdio’s inventory was accessing content from the 4 main record labels and the Merlin Network and the aggregator Catapult, BFM digital, boomer tunes, CD Baby, INgrooves, and the Orchard. The brand also provided social networking features like the ability to share albums, songs, and playlists with others on social apps like Twitter and Facebook.

In the year 2015, Rdio filed for bankruptcy in which they had to pay $200 million and also announced the sale of their IP property to Pandora Radio. The price on which Pandora Radio purchased was $75 million in cash. Now, let’s figure out the reasons behind its failure.

Why Did Rdio Music App Fail and the Mistakes it Made?

Rdio was an excellent product designed with perfection and minimal designs. Because it avoided flashy animations and focused on building a product that allowed users to focus on music alone, you can call it an amazing idea and service. But, then why did things go south?

The company’s only weakness was not having an excellent marketing and service distribution department. Also, the fact that Rdio was the first mover in the field of music streaming did not cover them once Spotify was launched. Also, the service never focused on acquiring users ever.

On the other hand, Spotify had an impressive business model and robust marketing strategy that helped them acquire more subscribers fast. While Rdio wanted users to pay and become subscribers to access the app’s services, Spotify did not have any such barrier and sustained using the Ads business model only in the starting.

Seeing its competitor, Rdio also implemented this strategy but it was a little late because the market was now in love with Spotify. The founders of the Rdio app focused on making money without building a product that is loved by customers. That was their biggest mistake.

4 Things You Should Learn From Rdio Music App Failure

Due to immense competition in the mobile app market, failing products and mobile apps are no surprise. But, if you are also trying to build a mobile app and want it to give you maximum returns, you need to learn from mistakes that others made in the app development and marketing process. Here are some things that you should learn from Rdio’s failing story:

1. Use Your Resources Where Needed

Rdio was a great product and it was also loved by customers because of its minimalist and attractive designs. Moreover, it was far ahead of its competitors and also had the first-mover advantage. But, it was over-engineered.

The app was under development for two years and the polished work done on the app was clearly visible in its engaging designs. Rdio was having a calming blue and white app design and a simple grid of album artwork. However, the company over-assigned its resources towards design and development but forgot to pay attention to marketing and other aspects.

2. Marketing and Brand Awareness are Crucial

Gone are the days when people used to believe “If you build it, they will come.” The competition in the industry is fierce and people are trying hard to get attention.

Rdio was launched in 2010 while Spotify made its entrance into the market in 2011. However, in 2010 as well people were talking about Spotify and a few knew that Rdio existed. The fact is that Rdio was an amazing product but with poor marketing. Its competitors took advantage of this thing and capitalized on the opportunity.

3. Deliver Value Before You Sell Your Product

One thing is simple in the mobile app development industry, your first goal should be to deliver value, and making money should always come after that. There are many examples of businesses that followed this strategy. For example, Instagram, the photo-sharing app was released in 2010 and it introduced paid advertising in 2013. For three years, the business focused on acquiring users without expecting them to pay anything.

On the other hand, Rdio charged users to join and use the app. The app did not provide any value but asked for money right away. A big mistake in the modern mobile app world.

4. (Sometimes!) It Is All About Not Making Sense

“Rdio made the mistake of trying to be sustainable too early,” says an early employee of Rdio in an interview with CB insights. He said that the founders of the app made the mistake of trying to be profitable without achieving the required astronomical growth curve. That was the reason they did not offer their services for free. Moreover, most of the revenue that they were generating through subscriptions was going in the content licensing deals.

In the subscription business model, your subscribers are your revenue stream. And to lure them, it is crucial to give something for free, which is why you observe Spotify going after every individual on the planet. Another example is Netflix, a subscription-based app that was always in losses but still made it to the billion-dollar mark. Check out How Netflix Works here.

Wrapping Up

To conclude, we can say that a mix of wrong business model, priorities, and timing was what gradually caused Rdio to fail and go out of business. However, let bygones be bygones. The goal of this piece of content was not to highlight the mistakes of Rdio’s founders but to help budding entrepreneurs learn from the mistakes that others made. Hope it helps!

One of the most famous things that happened in 2011 was the launch of Google Plus. The company leveraged custom social networking app development services, sent so many private invitations, left people so eager and excited for the launch, yet the question remains unanswered – “Why Google+ Failed”? Though, at that time, it was known to be the Facebook killer. 

Google+ came into the market when Tumblr, Twitter, LinkedIn and Facebook were already popular. However, the hype that it had created pre-launch, brought 10 million users within 2 weeks of launch. Amazing, right! And after 1 year, the number surged to 90 million users.

Despite offering an unparalleled better experience, Google social network failed to unseat Facebook. The search mammoth wanted too much, too early and didn’t let the network naturally develop through its growth phase.

Furthermore, there are various reasons to mark why Google+ failed like inadequate changes, lack of user engagement, software design errors, etc. In this blog, you will get to know why Google+ failed and what entrepreneurs can learn from it if they are looking for social media app development.

Imagine if you wanted to ship something to the opposite part of the country and you didn’t want to look for a big box, wait in a queue or go to the post office. You wanted someone to pick up the package from your house and deliver it to the desired destination.

The Shyp app made sure you got the convenience of getting items delivered without going anywhere. Their motto was: “We’ll Take It From Here”. The customers had to click a picture of the package, upload it through the app and the delivery agent would come and pick it up. The best thing about this service was they charged only $5 for it.

This on demand shipping business succeeded in California as people started recognising it as Uber For Deliveries. The business then expanded to Chicago and Newyork, where it didn’t do quite well. Subsequently, after 5 years Shyp app failed to function in the marketplace.

In this blog, we will get to know what is a Shyp app, where did it go wrong and things you should keep in mind to make your app a success.

This is a search app which is used to search the details of the app, it helps in searching for the other apps in depth. Quixey search engine is responsible for providing you the detailed knowledge about the reviews, availability and other feedbacks of the product or the item on the other website. For instance, take Nike shoes and when you search it on Quixey search engine. It will provide you with the deep knowledge about the product and what is the availability of the product on other apps and sites. It helps in deep researching of the product or service of anything. The objective of this Quixey  was to give users entire knowledge or information of the product and their services on a single platform.

The problem with the Quixey began when they collaborated with Alibaba. The things went wrong when Alibaba tricked the Quixey and involved others into the business as well. And now Quixey have to give the report weekly instead of quarterly. Which made things difficult for the Quixey search engine and got into legal problems with Alibaba for breaching the agreement. Therefore all these legal things made the situation difficult for Quixey to sustain. Brought the capital low and eventually results in collapsing the app. 

There are more than 2 million apps on the google play store and hence you can understand the level of competition among eCommerce Apps. One really needs to be creative and different if they want their eCommerce App to work. Auctionata was also one of the good eCommerce App but faced many issues and got shut. It has raised $96 million but every penny was wasted just because of their irresponsible dealing.

Auctionata was an online platform through which they auction luxury goods, art, antiques, and collectibles. They use to broadcast the live auction of the items and make them available for sale. It was started in 2012 and just after 5 years things went wrong and Auctionata got bankrupt and their services were seized.

The stock market is a display of the success of all A-listed companies present on the globe. It tells about how the company is working, what its scope of future, and how the revenues are flowing.

Higher is the price of the equity share (the price of one unit of the stock), the better is the financial position of the app. The stock market is very unpredictable as one share price touching sky heights today may be actually dropped down to rocks the next day and the recent case happened with travel app Airbnb.

The app Airbnb, which was one of the most popular apps of 2019 witnessed an unfortunate incident of the share price drop. Let us know why this happened.

For nearly nine years, WeWork, the New York City-based co-working startup enjoyed a dream run in the global real estate market. Then, just weeks ago, came the news that shocked the world – a sudden implosion that saw the company previously estimated to be worth $47 billion reduced to a mere $7 billion.

WeWork’s sudden, unexpected failure is the biggest of its kind in the entire history of startups and most certainly warrants a closer look.

So, let’s have a look at WeWork’s vision first and then we will find out what is making the startup drowning.