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Failure mapping the collaborative economy

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Failure mapping the collaborative economy

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Over the past five years that we have been tracking the growing number of ventures in the space, we have seen many succeed beyond even their own expectations and go on to disrupt an entire industry. On the other hand, there is a growing list of start-ups that have made the call to shut their doors, or no longer exist in their original form. Earlier this year we conducted a review of 45 of the more significant collaborative economy start-ups across Europe/UK, Asia-Pacific and the United States, that have either closed down or experienced a potentially fatal setback to understand the common challenges in the space.

Over the past five years that we have been tracking the growing number of ventures in the space, we have seen many succeed beyond even their own expectations and go on to disrupt an entire industry. On the other hand, there is a growing list of start-ups that have made the call to shut their doors, or no longer exist in their original form. Earlier this year we conducted a review of 45 of the more significant collaborative economy start-ups across Europe/UK, Asia-Pacific and the United States, that have either closed down or experienced a potentially fatal setback to understand the common challenges in the space.

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Failure mapping the collaborative economy

  1. 1. COLLABORATIVE ECONOMY FAILURE MAP
  2. 2. Accoleo Spinlister (formerly Doliquid) Lending Club ProFounder The Amazings Airbnb Exec Loanio Prosper The Sharing Engine Arribaa Neighborgoods (formerly FavorTree) Loosecubes RelayRides TutorSpree BlackJet Gidsy Lourish Rentalic Uber Car2Go London GoLoco Milk.ly Getable (formerly Rentcycle) Vayable Cherry HeyNeighbor! Monkey Parking RideJoy Wheelz Crashpadder HiGear Neighborrow Scaffold WhipCar Credport Housebites OhSoWe SprideShare Zaarly Divvy Legit.Co PhillyCarShare Swap.com Zimride 2   Failure Mapping – 45 Companies Reviewed          =  Closure                        =  S,ll  in  opera,on  
  3. 3. # of Companies by Vertical 5 Neighborhood Marketplaces 1 P2P Parking Marketplaces 4 Ridesharing Platforms 1 P2P Produce Marketplaces 4 P2P Carsharing Platforms 1 P2P Funding Platform 4 Task Marketplaces 1 P2P Luxury Vehicle Sharing 3 Experience Marketplaces 1 Coworking Space Marketplaces 3 P2P Accommodation Platforms 1 On-Demand Ridesharing 3 P2P Loan Marketplaces 1 Swap Marketplaces 3 Reputation Providers 1 Meal Sharing Platforms 2 Skillsharing Marketplaces 1 P2P Bicycle Sharing 2 Carsharing Platforms 1 B2B Rental Marketplaces 2 White-label sharing platforms # of Companies by Type 25 Closures 8 Acquisitions 6 Pivots 6 PR Issues # of Companies by Model 38 P2P Business Models 5 B2B Business Models 2 B2C Business Models # of Companies by Country 35 United States Companies 7 United Kingdom Companies 2 European Companies 1 Australian Company 3   Failure Mapping – Key Statistics
  4. 4. Reason Explanation Scale The company was not able to reach a sufficient level of scale to achieve a sustainable business model in the required time. Unclear Value Proposition The customers weren’t compelled enough by the product offering to become repeat users – did not address a need. Insufficient Funding The available funding was not enough to see the company through to sustainable revenue. Lack of Product Focus The company offered too many product or service types, or addressed too wide a geographic area, resulting in weak uptake. Regulation The company did not comply with existing regulation or struggled to argue for regulation reform. Market Readiness The company did not find an enthusiastic customer base because the concept was launched prematurely into the market. Trust The company suffered a significant and damaging breach of trust in their communit.y Invalidated Product Offering The company launched the offering successful, only to find that there was a limited or nonexistent market for it. Lack of Community Engagement The company struggled to build a strong and engaged community around the business to support with viral growth. Lack of Government Support Government was unwilling to work proactively to create an enabling environment for the company to operate in. Poor User Experience The user experience was under-developed or caused major friction for consumers, resulting in loss of customers. Competition The vertical being operated in was saturated, and the company did not offer a compelling point of difference. Shift in Product Focus The company recognized a flaw in their original business model, resulting in a shift in focus, or pivot, for the product. Shift in Target Market The company recognized a challenge in uptake from their target market, resulting in a shift in focus to a different market. 4   Key Reasons for Failure Explained
  5. 5. 24% 15% 14% 12% 10% 7% 4% 3% 3% 3% 2% 1%1%1% Scale Unclear Value Proposition Insufficient Funding Lack of Product Focus Regulation Market Readiness Trust Invalidated Product Offering Lack of Community Engagement Lack of Government Support Poor User Experience Competition Shift in Product Focus Shift in Target Market 5   Predominance of Failure Issue
  6. 6. Most Common Reasons for Closure 26% 18% 18% 11% 9% 5% 3% 3% 3% 2% 2% Scale Unclear Value Proposition Insufficient Funding Lack of Product Focus Market Readiness Lack of Community Engagement Poor User Experience Regulation Lack of Government Support Competition Trust
  7. 7. 7   33% 27% 13% 6% 7% 7% 7% Scale Insufficient Funding Lack of Product Focus Unclear Value Proposition Market Readiness Regulation Shift in Product Focus Most Common Reasons for Acquisition
  8. 8. 8   Most Common Reasons for Pivot 30% 30% 20% 10% 10% Invalidated Product Offering Lack of Product Focus Unclear Value Proposition Scale Shift in Target Market
  9. 9. Most Common Reasons for PR Issues 9   56%   22% 11%   11%   Regulation Trust Lack of Government Support Unclear Value Proposition

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