Premium Case Study 04: Sorabel
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Why Startups Fail
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COVID-19 is a global pandemic and a force majeure: by definition, it is difficult to predict, and so are its effects. Even larger companies with deep cash reserves had to lay off 40-60 per cent of their headcount, but in this is probably the real commercial lesson.
Jeffrey Yuwono, CEO of Sorabel
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What is this about?
Do you love to read about company failures? Failure is an underrated metric for measuring success. A popular quote says, "success is 99% failure." Many agree with this quote, as it also applies to business—most businesses fail.
Too often, we focus on the success stories of startups, but there's a lot to be learned from their failures as well.
Sorabel is a fashion e-commerce store that quickly became a success due to its innovative idea of a try-before-you-buy service. It sold affordable clothing, mainly women's, through mobile applications and raised over USD 49 million in funding.
However, it failed. You might think the pandemic was the only reason for Sorabel's failure. But there was a lot more to it. In this case study, we'll look at the other factors that contributed to their failure.
Too often, we focus on the success stories of startups, but there's a lot to be learned from their failures as well.
Sorabel is a fashion e-commerce store that quickly became a success due to its innovative idea of a try-before-you-buy service. It sold affordable clothing, mainly women's, through mobile applications and raised over USD 49 million in funding.
However, it failed. You might think the pandemic was the only reason for Sorabel's failure. But there was a lot more to it. In this case study, we'll look at the other factors that contributed to their failure.
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