When perusing the tech blogs, you’ll often read about startup successes – billion dollar valuations, exits in the hundreds of millions and the latest startup to raise a large chunk of funding. But what about those that don’t fare so well?
According to the Wall Street Journal, 3 out of 4 venture-backed startups fail – as in the number of startups that are unable to pay deliver a return on investment. On a broader spectrum, a reported 90% of tech startups will fail – which includes companies that have had great traction in the beginning but was unsustainable such as MySpace.
While it’s becoming more and more trendy to do a startup, any founder can attest to the fact that the well-trodden path of entrepreneurship is not an easy one – and can be in fact, quite hellish. Which is why we wanted to share the experiences of a founder whose startup did not make the cut. Although he wished to remain anonymous due to the negative impact the failed venture has had on his personal life, we thank him for letting us in his cautionary tale of entrepreneurship which can be helpful to any first-time founders.
