One of the most reported reasons for startups to fail, is running out of cash. This can even happen to auspicious startups. According to a Fortune article, only one in every ten startups will succeed. The year 2017 was no exception to this; many startups were forced to close up shop. We will look at five noteworthy bankruptcies that transpired last year.
Built as a plugin for web browsers, Yippie! was designed to help its users with online shopping. During checkout, it browsed the internet to see whether you could get a better deal on the products in your cart. Yippie! would get a small commission if customers bought this better deal. After receiving a whopping 60ok of funding in 2015, the company grew fast. Too fast according to founder Maurice Kroon. “We made a few stupid and classical corporate mistakes,” Kroon told Emerce, without discussing the details. The bankruptcy did not stop him, though. Kroon was determined to fix the problems and reboot Yippie! in the summer of 2017. Therefore, their website said: “Yippie! is having a break.” But today, the website is unresponsive and it appears Yippie! has officially ceased to exist.