Documented cause
Primary failure cause: Bad Timing. Outcome: Shut Down. Raised: $15M. 90% of startups fail. Learn how to not to with our weekly guides and stories. Join 40,000+ founders.
90% of startups fail. Learn how to not to with our weekly guides and stories. Join 40,000+ founders.
Started in 2015, Vreal was a virtual reality startup that enabled users to create avatars and interact with content creators and players on a shared VR space. The startup managed to snag more than $15 million from VC firms including Axioma Ventures, Upfront Ventures, and Intel Capital. Vreal allowed players to watch immersive content while being inside the game, think of it as ‘Twitch for VR’ (Twitch is a live-streaming platform for gamers). They had more than two dozen employees before they decided to shut shop in August 2019.
The startup themselves admitted that they were ahead of their time with a product whose market was never fully developed. They expected the VR market to grow at a much faster rate, but it didn’t happen at the speed they expected.