Raising millions in funding might sound like a golden ticket to success, but for these startups, it was more like a very expensive detour to nowhere. Just because investors are willing to throw money at an idea doesn’t mean the business is actually built to last.
From buzzy launches to flameouts that made headlines, these startups prove that hype, cash, and ambition still aren’t enough without actual execution. Let’s take a look at startups that burned through their millions and still couldn’t make it out alive.
14. Theranos
It raised hundreds of millions, promising a medical breakthrough, but all it delivered was one of the biggest scandals in startup history. Turns out, fake it till you make it doesn’t work in healthcare.
13. Juicero
This $400 juicer that needed Wi-Fi and could be operated by human hands raised over $100 million. Investors got squeezed harder than the juice packs.
12. Beepi
The used car marketplace raised $150 million with big plans to disrupt car buying. But poor leadership and a bloated business model ran it straight into a ditch.
11. Jawbone
Jawbone raised nearly a billion dollars to take on Apple and Fitbit in the wearables game. After years of lawsuits and faulty products, it finally ran out of juice.
10. Homejoy
Home cleaning on demand sounded like a great idea and attracted over $40 million in funding. But legal issues and retention problems left them sweeping up their own mess.
9. Pets.com
A dot-com bubble icon, Pets.com burned through $300 million trying to ship pet food across the country. The sock puppet was cute—unfortunately, the business wasn’t.
8. Better Place
This electric car infrastructure company raised nearly a billion dollars to revolutionize driving. Sadly, no one wanted to switch batteries at roadside kiosks.
7. MoviePass
Unlimited movies for $10 a month? Investors threw in $68 million before realizing that the model doesn’t add up. Shockingly, letting people see a dozen movies a week is not sustainable.
6. Clinkle
One of Silicon Valley’s most hyped fintech startups raised $30 million before launching… nothing. It became the poster child for how not to spend venture capital.
5. Luckin Coffee
Dubbed the “Starbucks of China,” Luckin Coffee brewed up over $500 million before being caught cooking the books. Fraud was on the menu more than actual caffeine.
4. Rethink Robotics
A promising robotics startup that raised tens of millions to automate factories. But the robots weren’t quite ready, and neither was the market.
3. Solyndra
Backed by over half a billion dollars in government loans, Solyndra was going to reshape solar energy. Instead, it became a cautionary tale about betting big on untested tech.
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2. Quibi
Armed with nearly $2 billion and a dream to revolutionize mobile entertainment, Quibi flamed out faster than a TikTok trend. Turns out, people don’t want to pay for short videos when YouTube is right there.
Read More: 30 Companies That Lost Money in Shockingly Stupid Ways
1. WeWork (The Original Version)
WeWork raised billions with a vision to redefine workspaces—and almost took the whole market down with it. A wild valuation, a wild founder, and no actual profits were a deadly combo.
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