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From aging dinosaurs to failed startups, these are 13 of the biggest tech companies that went under in the 2010s

By Anne workforce / November 8, 2019

old blockbuster

The 2010s saw booming growth across the tech industry, but some companies didn’t survive the decade.
Many of the companies that went under in the past decade were aging dinosaurs that couldn’t adjust to changes brought about by new technology.
Other high-profile casualties included startups who raised hundreds of millions in venture capital before ultimately collapsing.
Visit Business Insider’s homepage for more stories.

The 2010s were a decade of massive transformation for the tech industry. Advances in technology brought nearly every industry online, and the proliferation of mobile devices and social media fundamentally changed the way consumers and businesses interact.

The 2010s were also a bloodbath for companies that couldn’t keep up with seismic technological changes.

Dozens of high-profile companies went under in the past decade. While some were doomed by their reliance on outdated tech, others were new startups that raised millions before burning out.

These tech and media companies are now synonymous with obsolescence, but their decline and failure can provide valuable lessons about how fast industries are changing and what happens to entities that can’t keep up.

Here are 13 of the most notable tech companies to go under in the past decade.

2010: Blockbuster
Yelp/Guy B.

Year founded: 1985

Peak valuation: $8.4 billion in 1994

Declared bankruptcy: September 2010

Even though Blockbuster filed for bankruptcy nearly a decade ago, there’s one privately-owned Blockbuster franchise store left in the world. Read more about it here.

 

 

2011: Solyndra
AP

Founded: 2005

Peak revenue: $140 million in 2010

Went out of business: 2011

The solar power startup was the first to receive a clean energy loan guarantee from the federal government in 2005. It shuttered in 2011, just five months after a visit from President Barack Obama.

2011: Palm

Founded: 1992

Peak valuation: $53.3 billion in 2000

Went out of business: 2011

One of the largest beneficiaries of the dot com bubble of 2000, Palm was once valued higher than McDonalds, Chevron, and General Motors.

See the rest of the story at Business Insider

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