Over 100 million new businesses are founded every year worldwide. However, 90 percent of the new businesses fail within a couple of years. There are a number of reasons behind their failure but the majority of people tend to believe that startups fail due to of lack of funding (which is not true).
There are a number of factors that contribute to their success and failure. For example, failing to understand the market needs, undervaluing competitors, failing to upgrade product, liabilities exceeding the assets and putting a high price tag.
The best thing about startups success or failure is ‘the lesson’. Team IQVIS has designed an infographic, listing down 10 of the best-funded companies to close in the first nine months of 2017.
These companies raised a combined capital of $1.7 billion from banks and venture capitalists, yet, they failed to survive for one or the other reason. The infographic provides a brief description of the company, the amount of capital it raised, and primary reason behind the failure.
(Don’t forget to share it with your friends, colleagues, and social networks).