#Fail: Wantful

Wantful 2011–2013
New York — USA
Founders John Poisson
Raised US$ 5.5 Millions

Wantful was an online gift-giving service that offered recommendations based on a recipient’s style and interests.

Main Reasons for failure

-Partnership: Was depended on a partnership with Nordstrom but eventually didn’t fall through.

-Competition: They shifted their focus from buying gifts for friends to also buying gifts for yourself. This caused them to compete with a new set of competitors, including Wanelo, Wish, Fancy, Svpply’s Want and Polyvore.

-Investments: Couldn’t secure additional investment.

Nowadays

John Poisson is the Principal at Poisson & Company, a strategy and design consultancy focused on the retail space. Also is the founder of Maison6.

Source: Techcrunch

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