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Meet the founder of the Failure Museum, an exclusive collection of swag from companies that went bankrupt

Business Insider

Business Insider · 1y ago

Meet the founder of the Failure Museum, an exclusive collection of swag from companies that went bankrupt

Venture capitalist Sean Jacobsohn has amassed a collection of over 500 items from failed companies, product launches, toy lines, and sports teams. Dubbed the "Failure Museum," it showcases artifacts such as a Pets.com puppet mascot, an unopened champagne bottle from Webvan's IPO celebration, and a Theranos lab coat. Jacobsohn's collection, which skews towards tech and startups, serves as a reminder of the lessons learned from failure. He sources items through donations and purchases on eBay, and his hobby has even expanded his professional network.

Related News

“It’s a heist”: Senator calls out Texas for trying to steal shuttle from Smithsonian

Arstechnica

Arstechnica · 4d ago

“It’s a heist”: Senator calls out Texas for trying to steal shuttle from Smithsonian

Texas senators sought to relocate NASA's retired space shuttle Discovery from the Smithsonian to Houston, facing opposition from Senator Dick Durbin. Durbin criticized the $85 million budget allocation for the move, arguing actual costs could surpass $305 million, excluding a suitable display facility. He questioned Congress's authority over the Smithsonian's collection, as NASA transferred Discovery to the museum in 2012. Durbin proposed an amendment to halt shuttle transfers, which he later withdrew after raising these concerns.

Exclusive: NEC spurned private equity offers before selling discounted stake in iPhone supplier, sources say

Reuters · 1y ago

Exclusive: NEC spurned private equity offers before selling discounted stake in iPhone supplier, sources say

NEC, a Japanese IT services and software firm, received buyout offers from multiple global private equity funds for Japan Aviation Electronics Industry (JAE), an iPhone supplier, before agreeing to sell back a significant portion of its 51% stake at a discount. While the existence of these offers has not been previously reported, it could potentially create criticism for NEC and JAE regarding their failure to act in the best interest of shareholders. The Tokyo Stock Exchange and regulators are urging Japanese companies to improve governance and returns, including unwinding cross-shareholdings and "parent-child" listings.

FTX reaches settlement with BlockFi, may pay up to $874 million

Economic Times

Economic Times · 1y ago

FTX reaches settlement with BlockFi, may pay up to $874 million

Crypto companies FTX and BlockFi have settled their legal dispute, with FTX agreeing to pay BlockFi up to $874 million. The settlement is pending approval by a bankruptcy judge and arises from the companies' collapses in 2022. FTX will prioritize a $250 million payment to BlockFi, with the remaining amount dependent on FTX's efforts to repay its own customers. The two companies had a close relationship and had sued each other to recover loans before going bankrupt. FTX founder Sam Bankman-Fried, who was convicted of stealing $8 billion, is set to be sentenced in March.

Exclusive: Decoding Bluestone’s pre-IPO round

Entrackr

Entrackr · 10m ago

Exclusive: Decoding Bluestone’s pre-IPO round

Omnichannel jewellery retailer Bluestone has raised Rs 600 crore (approximately $72 million) led by Prosus (through its subsidiary MIH Investments) and with participation from Steadview, Think Investments, and Pratithi Growth Fund. The board at Bluestone has passed a special resolution 1,03,80,622 Series H compulsory cumulative preference shares at an issue price of Rs 578 to raise Rs 600 crore or $72 million, its internal fining accessed by Entrackr from Registrar of Companies show. Prosus led the round with Rs 351 crore or $42.2 million while Steadview Capital, Think Investments and Pratithi Growth Fund pumped in Rs 80 crore, Rs 84 crore, and Rs 35 crore respectively. The 27 other investors participated with the rest of the primary capital into Bluestone. This is part of an earlier reported Rs 900 crore pre-IPO round out of which Rs 300 crore is secondary. The funds will be used for expansion, ongoing operations, capital expenditure, and other general corporate purposes, the filing further added. According to startup data intelligence platform TheKredible, the company has been valued at around $972 million post-allotment. Following the fresh proceeds, Prosus holds 4.48% of the company while Steadview Capital, Think Investments and Pratithi Growth command 1.04%, 1.10%, and 1.08%, respectively. Founded in 2011 by Gaurav Singh Kushwaha, Bluestone provides an extensive jewellery collection for both men and women, available through its website and network of offline stores. According to the firm’s website, it operates over 190 stores across 75 cities. Bluestone continued to grow its revenue and narrow losses in the fiscal year ending March 2023. During the fiscal, the firm achieved 65% year-on-growth and its collection stood at Rs 787 crore. Its losses dwindled 87% to Rs 167 crore. It’s yet to file its annual results for FY24. Bluestone’s close competitor CaratLane, which is owned by Titan, reported Rs 3,081 crore revenue with Rs 79 crore profit in FY24.

Builder.ai Bankruptcy: How 1,500 Employees, $450M Funding, and Thousands of Client Businesses Got Locked Out

StartupTalky

StartupTalky · 1m ago

Builder.ai Bankruptcy: How 1,500 Employees, $450M Funding, and Thousands of Client Businesses Got Locked Out

Builder.ai, a no-code software development platform, went bankrupt in May 2025, revealing financial mismanagement and leaving 1,500 employees jobless. With revenue overstated by 300%, a key lender seized $37 million, halting cash flow. The abrupt shutdown left thousands of clients, like a $65,000 EdTech startup, without access to their code or data. This situation underscores the risks of depending on third-party platforms and highlights the importance of code ownership and platform independence for startups.

FIRs against cloud kitchen firm BigSpoon over unpaid rent: Report

YourStory

YourStory · 1y ago

FIRs against cloud kitchen firm BigSpoon over unpaid rent: Report

Grip Invest, an asset financing company, has taken legal action by filing FIRs against the senior executives and directors of the cloud kitchen startup, BigSpoon, due to their failure to pay rent, as reported by YourStory. According to an email sent by Grip Invest to its investors, legal proceedings have been initiated against the startup. Furthermore, it has been noted that Kapil Mathrani, the Founder and CEO of BigSpoon, is currently unreachable. There are reports of the founder fleeing the country.

Exclusive: Futwork kicks off Series A led by Michael & Susan Dell Foundation

Entrackr

Entrackr · 10m ago

Exclusive: Futwork kicks off Series A led by Michael & Susan Dell Foundation

Sales outreach platform Futwork has raised Rs 20.9 crore approximately $2.5 million in its Series A round led by the Michael & Susan Dell Foundation with participation of Artha Ventures, Simile Capital, and others. The board at Futwork has passed a special resolution to issue 50 equity and 8820 preference shares at an issue price of Rs 23650 each to raise Rs 20.9 crore or $2.5 million, its regulatory filing accessed from RoC shows. Michael & Susan Dell Foundation led the round with Rs 14.17 crore while Artha Ventures, Simile Capital, SCI Bureaux, We Founder Circle, and angel investor Abhishek Goyal cumulatively invested the rest of the amount. According to the filings, the company will use the fresh funding to meet its growth objectives, and the working capital and to strengthen its financial position. Following the fresh proceeds, the Michael & Susan Dell Foundation will hold 19.92% of the company while Simile Capital and Artha Ventures command 10.08% and 5.64% of the company. The company has secured $1 million in its seed round led by Blume Ventures in 2022. As per the data intelligence platform TheKredible, the company has been valued at around Rs 71 crore or $8.5 million post-allotment. Founded in 2020 by Armaan Vananchal, Niranjan Nakhate, and Sri Ganapathy, Futwork helps businesses build and expand their outbound calling teams with zero fixed costs. It supports a variety of tele-calling applications, such as product demos, session bookings, and customer feedback collection. In the fiscal year ending March 2023, the company reported a 12% drop in revenue, amounting to Rs 3.79 crore for FY23, with a loss of Rs 3.78 crore during the same period. According to the sources, its previous year’s loss was Rs 2 crore.

Europe will have to be more Tenacious to land its first rover on the moon | TechCrunch

TechCrunch · 1m ago

Europe will have to be more Tenacious to land its first rover on the moon | TechCrunch

Europe's attempt to land its first rover on the moon, Tenacious, faced a setback when its lander lost contact during a landing attempt, indicating possible failure. The mission, supported by the European Space Agency and involving collaborative efforts from Luxembourg, aimed to explore lunar resources. Tenacious, carrying a scoop for NASA's soil collection mission, also included an artistic element, The Moonhouse, symbolizing humanity's shared imagination. This endeavor highlighted Europe's commercial and cultural aspirations in space exploration.

Unacademy Fires Another 250 Employees To Turn Profitable

Inc42 · 1y ago

Unacademy Fires Another 250 Employees To Turn Profitable

Last month, Unacademy conducted a restructuring that led to the termination of 250 employees. Out of the total, 150 employees from the sales department were fired due to their failure to meet sales targets. Unacademy confirmed the layoffs but did not disclose the exact number of employees affected.

SC orders SpiceJet to clear Credit Suisse dues by 15 March

Livemint

Livemint · 1y ago

SC orders SpiceJet to clear Credit Suisse dues by 15 March

The Supreme Court has ordered SpiceJet to settle all pending payments to Credit Suisse by 15 March. The court directed the airline to pay $1.25 million to Credit Suisse and summoned SpiceJet's chairman and managing director to appear before the court. The court questioned SpiceJet's capacity to finance the acquisition of bankrupt airline Go First while neglecting its overdue payments. Credit Suisse had filed a petition alleging intentional non-compliance with court directives and failure to settle outstanding dues. SpiceJet has recently garnered attention for a joint bid to acquire Go First.

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