FrontRow, an online platform for learning creative arts, hobbies, and sports, closed down after failing to find a product-market fit in the non-academic online learning space. Co-founder Ishaan Preet Singh is exploring the possibility of selling the company's intellectual property (IP) and returning unused capital to investors. The three-year-old startup had raised $18M from Elevation Capital, Eight Roads Ventures, Lightspeed Venture Partners, and Not Boring Capital. - The Indian startup had earlier pivoted to career-oriented learning for adults and offline holistic development for kids.
- However, it soon became evident that the market size was not substantial enough, and the scope for scaling the business was limited.
- Although FrontRow managed to reach annualized revenue of $3M to $4M, the startup faced challenges in propelling further growth.
- In a previous note, Singh said, "This isn't a capital or runway question (we have over three years of runway); it's more about making sure that when you raise capital with a vision of building a large scale business, you are honest on whether that's doable in a particular market as you learn more."
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