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Archetypes

Archetypes by Grace Ng

Have you ever wondered why we like the things we do? Or perhaps why we’re drawn to certain ideas, themes and even people? These queer patterns in our behavior could better be explained by a company by the name of ‘Archetypes’. Or rather… could have been.

The company was one of the largest start up businesses in New York, securing $19 million in funding over two years, the company’s concept centered around helping people “discover” and better understand themselves by classifying them into different archetypes. It also provided a platform for like-minded users to connect, interact and unite. Despite it’s unique concept and trendy inlay, The Company found itself bankrupt by 2013. The huge Sunk cost the company incurred deterred stakeholders from shelling out anymore money as the prospects for reaping benefits looked grim. After having failed to raise $20 million , the company declared it’s bankruptcy.

 

In light of discovering the tragic end to this company, I realized something that had never previously occurred to me before.. Though much thought and effort had gone into the production and making of this company’s foundation; successfully making in popular – with over 100,000 sign ups; the company had lost sight of it’s main goal, and that was to generate revenue. Failing to rebound from the hefty sunk cost proved too much for the company to stay a float.

bib:

  1. “NYC Startup Archetypes Goes Bankrupt.” Pando. N.p., 04 Nov. 2013. Web. 10 Oct. 2015.
  2. “Archetypes, the Biggest NYC Startup You’ve Never Heard Of, Completely Unravels.” Pando. N.p., 03 Oct. 2013. Web. 10 Oct. 2015.
  3. “About Us – Archetypes.” Archetypes. N.p., n.d. Web. 10 Oct. 2015

video taken from

http://www.archetypes.com/about-us/

Story written by Grace Ng

 

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