There are many reasons why startups fail.
Flipidea, a Bruneian startup (co-founded by a Malaysian) focused on compiling and analysing data of startup failures, has recently released data on over 500 companies that have closed down.
The infographic below lists down some of the key reasons why these companies have shuttered, together with their industries, funding, headcounts, and more:
According to co-founder and CEO of Flipidea, Paul Lee, he believes that many founders could learn from the mistakes of previous failures, allowing them to build more sustainable companies in the long run.
More data on startup failures can be viewed via Flipidea's official website.