#Fail: 99dresses

99dresses 2010–2014
Sydney — Australia
Founders Nikki Durkin
Raised US$ 105.650

99dresses was a virtual closet that allowed users to trade fashion items within its users.

Main Reasons for failure

-Legal: They had Visa issues that affected their operations between the US and Australia
-Product: The final pivot of the company lacked product-market fit, and the number of transactions on the platform plummeted.
-Revenue: As their profit was based on the transaction fee when the transaction price decreased their revenue took a hit.
-Momentum: Due to their technology issues it ended up losing its momentum on the market.

Nowadays

Nikki Durkin is the founder of CodeMakers, a young startup that teaches kids programming using Minecraft.

Source: Medium

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