Pivot facts & stats

Question 1

Among 101 failed startups surveyed, what was the single most common reason founders cited for failure?

Accepted Answer

lack of consumer interest (42%). Building something nobody wanted was cited far more often than any other single reason for failure.

Question 2

In that same survey, what share of failed founders blamed funding or cash problems?

Accepted Answer

29%. Running out of money was the second most common reason founders cited for their startup's failure.

Question 3

Groupon, one of the most famous startup pivots, first launched as a platform called The Point. On its first coupon promotion, how many people redeemed the deal?

Accepted Answer

about 20 redemptions. That tiny first test eventually led Groupon to pivot into the daily-deals business that made it famous.

Question 4

About how many years after that shaky start had Groupon grown into a billion-dollar business?

Accepted Answer

about 3 years. Groupon's rapid rise after its pivot became one of the most cited startup pivot success stories.

Pivot facts & stats

Going deeper

Among 101 failed startups surveyed, what was the single most common reason founders cited for failure?

About how many years after that shaky start had Groupon grown into a billion-dollar business?

Expert level

In that same survey, what share of failed founders blamed funding or cash problems?

Groupon, one of the most famous startup pivots, first launched as a platform called The Point. On its first coupon promotion, how many people redeemed the deal?