When people say that the success of a business isn’t all about the method of funding involved, I have come to agree with them completely. This list of companies listed by ALUX.COM proved that it is not every problem that money has the power to solve.
Let us begin with the South African Airways, I must confess to the fact that prior to the time of reading this article on Alux.com I have never heard about this airways before, the government has given a huge bail out to this airways in order to resume their full operations.
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There is a company called essential products, this company got a huge funding of about 330 Million Dollars and still did not come out as a success to the market, it was not an acceptable product by the huge masses.
Lesport is a sport streaming company who received the funding of $1.7 Billion before they ran highly into the inability to pay up their rent which eventually resulted in the closure of the business.
Solyndra is another solar company who got a funding of $1.22 Billion and after four years it was discovered that by the energy department that this company gave a false figure that helped them secure the loan they are using for their project and this as expected, led to the failure of the project.
Roadstar.ia is a company that had the dream of building electric cars and having them become a popular over all over the road, this company received a funding of $128 Million, the founders of this company had prior experiences of building an electric self-driving car because they have previously worked at Google, apple and tesla but there was a disagreement between them and this led to the firing of one of them and since then it seems the dream of building a self-driving electric car from this company has been scrambled.
Seven dreamers is a Japanese company that had the idea of developing a washing machine that could wash your clothes, get them ironed and folded it sounds like a great idea right? But the sad reality is that after this company received $104 million funds it still filed for bankruptcy.
These and many more projects are projects that has received huge funding’s from both private investors and huge government funding and still failed at meeting their targets, so just before you think that funding is all that it takes to have a successful business, you may have to read this again.
*Hi @frederickbangs it is a very common case to find companies with huge funding failing woefully or even filing for bankruptcy after some years, it isn't just about having the funds it is about utilizing the funds the right way.
Hello friend, the truth is that money is not everything for a business or company, you must have many tools or qualities in mind. From the employees to the planning. I think it is not an easy job but not impossible either. You must have the right people in charge, otherwise it is very likely that the business will fail.
Greetings.