Josiah Larkin

Startup Failures Business Insider’s most noted startups that have failed in 2015

Quirky

Launched: 2009 An invention platform that let people vote on potential products, Quirky would then create the most popular products.

Money raised: $185 million!Quirky filed for bankruptcy large in part to creating “products that had thin to non-exist margins”.

Daniel Goodman / Business Insider

Zirtual

Launched: 2011 Zirtual gave people on-demand virtual assistants

Money raised: $5.5 million!After laying off 400 employees, CEO Maren Kate Donovan said “the company had over staffed without having matching demand”.

Business Insider, Zirtual

Secret

Launched: 2014 An app where users shared texts, rumors and confessions anonymously

Money raised: $35 million!It was surprisingly the decision of the CEO David Byttow to close because the company did not represent what he had originally envisioned.

Business Insider: Brian Ach, Getty Images

Rdio

Launched: 2010 Music-streaming site similar to Spotify and Apple Music

Money raised: $125.7 million!The company could not compete with Spotify and was acquired by Pandora.

Adam Campbell, Flickr

Leap

Launched: 2013 Transit service that offered a luxurious atmosphere for commuters

Money raised: $2.5 million !After much speculation initially, the company filed for bankruptcy after only earning $20,748 in gross income for the year.

Leap

These findings go to prove that it doesn’t matter how much money you’ve been funded or how long you’ve been established, there is always a possibility that things

won’t work out. So, if you’re looking to start a business be sure to have: !

. A clear and concise vision!

. Identify costs and your market!

. Determine all your legalities and regulations!

. Be flexible

To read more on Business Insiders, 7once-hot startups click here