RIP: Startup shutdown in April 2018 1

Indian micro-delivery startup MrNeeds shuts down – It was trying to stand out against eCommerce giants like Bigbasket, Grofers, and Amazon.in in a hyper-competitive market. MrNeeds was focused on optimizing the supply chain and minimizing delivery costs. It had raised about $500K in pre-Series-A funding from a group of angel investors.

Coinprism, ‘Colored Coins’ startup has shut down – Coinprism, was founded in 2014 as an online wallet service for “colored coins”  that allowed users to store and color their Bitcoins. It recently announced in a message on its website that it would shut down, and advised users to “withdraw your funds and export your private keys before this date.” Some industry analysts observed that Coinprism’s business model was ahead of its time. By using the bitcoin blockchain to create tokens representing other assets, its colored coins presaged the rise of ethereum and other networks built explicitly for such use cases. Coinprism’s shutdown echoes the wild swings in the market for bitcoins.

On-demand shipping startup Shyp is shutting down – An on-demand shipping startup Shyp, that was valued at over $250 million in 2015 announced it is shutting down. According to techcrunch “The company raised $50 million in a deal led by John Doerr at Kleiner Perkins back in 2015, one of his last huge checks as a variety of firms jumped onto the on-demand space.

Hyped-Up Litecoin Payment Startup LitePay Abruptly Shuts Down – Litecoin drops over 10 percent following announcement, prompting Litecoin founder and Litecoin Foundation to issue apologies

ImmERge Labs shuts down – realLIST ’18 startup ImmERge Labs, a small yet promising spinout from the Penn ecosystem working on a virtual reality platform to train people in CPR and emergency preparedness, has shut down. On Friday, Penn researcher and ImmERge Labs founder Marion Leary told Technical.ly in a Twitter DM her company’s CEO, Matt Grabowsky, had resigned and the decision was made to dissolve the company. The news was shared with friends of the company on an email sent Friday. Founder Marion Leary said long sales cycle contributed to the company being dissolved. Here’s what the leadership team will be up to next.

 

Shyp CEO Announces End Of Delivery Startup

Onetime social publishing star Cooking Panda is shutting down – Until a year ago, Render Media co-founder Eytan Elbaz was on a high, getting press coverage that floated him as the “most important person in LA tech,” landing on Inc.’s list of fastest-growing companies in the world, putting himself in the company of Vice and BuzzFeed and naming tech and gaming as Render’s next targets for expansion. Employees enjoyed free lunches, telecommuting benefits and expansive views of L.A.’s Fairfax district. Now, the startup behind social recipe site Cooking Panda and Opposing Views has confirmed it is shutting down, seemingly another victim of Facebook’s recent algorithm changes.

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