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Google, LG and other companies exit in 2021

2020 was a tough year for startups. The pandemic bled the industry, overnight, killing successful business models and squeezing funding. The list included the one that was once the sweetheart of investors. 2021 was a much better year, as people and companies learned how to live with the pandemic. There is no doubt that India has seen more than 30 rhinos. However, there were those who found it difficult. Here are eight of those companies, not all startups, that failed to make it to the finish line during the year.

Houseparty app

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Houseparty app

The video chatting app Houseparty launched in 2016, and went big in 2020. The pandemic that made the app popular has also proven to be the reason for the decline as it increasingly faces competition from wealthy rivals from Google, Facebook and Microsoft. In September 2021, the Epic Games-owned app for Fortnite was closed. The company did not give any specific reason behind the move. “The team behind Houseparty is working to devise new ways to have meaningful and authentic social interactions at scale across the Epic Games family,” Epic said in a statement.

Googles Loon Internet Balloon Company

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Google’s Internet Company Loon

Google has pulled its internet balloon company, Loon. Founded in 2011, Loon has been part of Google’s moon launch projects. It was intended to bring high-speed internet to the most remote parts of the world. The project failed because it failed to find partners due to the lack of a sustainable business model.

hik messenger

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hik messenger

2021 also saw Hike shut down the messaging service. In a Twitter post, CEO Kavin Mittal said the company will shift its focus to two new social products – Vibe and Rush.

Back

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Back

Health analytics marketplace Apervita ceased operations in October 2021. In a LinkedIn post, Chief Information Officer and Innovation Officer Blackford Middleton wrote that the company failed to raise sufficient resources in its second round of funding. “It has been a wonderful journey full of innovation and impact,” he said.

Nikki

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Nikki Ai

The Bengaluru-based startup Niki.Ai was founded in 2015. The startup whose investors were Ratan Tata introduced an artificial intelligence (AI)-powered chatbot that allows users to transact in several languages ​​including English, Hindi, Bengali and Tamil. The AI ​​startup shut down in October last year, just months after it announced its overseas expansion.

LG exits the smartphone business

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LG exits the smartphone business

In April 2021, LG Electronics announced that it would be closing its mobile phone business unit. LG, which was once a prominent player in the mobile phone industry, has been struggling in the market since the past few years. The company said it will continue to provide service and software updates to its users for some time.

Dark Sky weather app

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Dark Sky weather app

Dark Sky – This is on its way out. Apple acquired the popular hyperlocal weather app in March 2020. While the Android app has been discontinued after a few months from the Google Play Store, the iOS app will be shutting down by the end of 2022.