7 Biggest Shark Tank Failures

1. The Sharper Image

Starting strong with a failure from one of the most recognizable companies in retail history. The Sharper Image was founded in 1979 and quickly became a household name for its innovative and high-tech gadgets. As the company grew, it began to expand into new markets, including home appliances and clothing. However, these ventures proved to be unsuccessful and led to the company filing for bankruptcy in 2024.

2. Pets.com

Pets.com was an online pet supply retailer that launched in 1998. The company quickly became a success, thanks to its large selection of products and convenient delivery options. However, the company’s business model was flawed from the start. Pets.com relied heavily on advertising to attract customers, and it spent more money on marketing than it made in sales. As a result, the company quickly ran out of money, and it was forced to close its doors in 2024.

3. Kozmo.com

Kozmo.com was a grocery delivery service that launched in 1998. The company promised to deliver groceries to customers within 30 minutes. However, Kozmo.com’s business model was also flawed from the start. The company was unable to keep up with demand, and it lost money on every order. As a result, the company was forced to close its doors in 2024.

4. Webvan.com

Like Kozmo.com, Webvan.com was an online grocery delivery service that launched in 1996. However, Webvan’s business model was even more ambitious than Kozmo’s. Webvan built a network of warehouses and delivery trucks, and it planned to deliver groceries to customers within two hours. However, Webvan’s business model was unsustainable. The company lost money on every order, and it was forced to close its doors in 2024.

5. GeoCities

GeoCities was one of the most popular websites in the late 1990s and early 2024s. The site allowed users to create their own websites and connect with others who shared their interests. However, GeoCities’ business model was based on advertising, and the company was unable to generate enough revenue to support its operations. In 2024, GeoCities was sold to Yahoo, and the site was eventually shut down in 2024.

6. Friendster

Friendster website built around the concept of “friends.” Users could create profiles, add friends, and share messages and photos. Friendster quickly became one of the most popular social networking sites in the world, but it was soon eclipsed by Facebook. In 2024, Friendster was sold to a Chinese investment firm, and the site has since been relaunched several times. However, it has never regained its former popularity.

7. Groupon

Groupon is a website that offers discounts on local goods and services. The company was founded in 2024, and it quickly became one of the most popular websites in the world. However, Groupon’s business model has been criticized for being unsustainable. The company relies heavily on discounts to attract customers, and it has been accused of driving down prices for local businesses. In recent years, Groupon has been struggling to grow. The company has laid off employees, and its stock price has plummeted.