Regulation and legal issues
Regulation and legal issues: 31 startups that closed for this reason, with their stories and lessons.
31 startups
15.ai
The SI project that voiced fictional characters for free, named after its claim of cloning a voice from 15 sec
In bankruptcy2021 – 2026Character.AI
A platform for chatting with characters: a Google licence in 2024, a bankruptcy protection filing in 2026
Closed2018 – 2026ICRYPEX
A crypto exchange that grew through sponsorships and fan tokens, then went into liquidation in 2026
Closed? – 2026Vepara
A payment institution offering virtual POS, a digital wallet and pay-by-link on a single platform
Closed2017 – 2025BitTurk
A Turkish exchange that was first to list some altcoins in Turkey and also built blockchain software
Closed2019 – 2025BluSmart
An Indian ride-hailing service run on an all-electric fleet
Closed2012 – 2025ininal
A Turkish prepaid card start-up that let people without credit cards shop online
Closed2014 – 2025Nikola
The listed company that promised hydrogen and battery-electric heavy lorries
Closed2013 – 2024Koinim
A first-generation Turkish bitcoin wallet and trading platform, launched in 2013
Closed2016 – 2023Frank
The student financial aid start-up that JPMorgan bought
Closed2018 – 2023IRL
An events and messaging network for young people whose users turned out to be 95 per cent bots
Closed2021 – 2023LINK Türkiye (Superpedestrian)
US-based Superpedestrian's shared scooter service in Istanbul, Ankara and Izmir
Closed2011 – 2022LendUp
A fintech offering short-term online loans and credit cards to people with poor credit scores
Closed2018 – 2021Coinzo
An İzmir-based platform that ranked among Turkey's five most-used crypto exchanges
Closed2017 – 2021Thodex
The Turkish crypto exchange, founded as Koineks, that went dark overnight in 2021
Closed2017 – 2021Vebitcoin
The Muğla-based crypto platform that halted operations right after Thodex
Closed2004 – 2020Alkışlarla Yaşıyorum
The video site that became Turkey's archive of comedy clips during the years YouTube was blocked
Closed2016 – 2020Careem Türkiye
The Gulf ride-hailing start-up's taxi-hailing service in Istanbul, Bursa and Adana
Closed2017 – 2019Koinex
Once one of India's biggest crypto exchanges, shut down by a banking ban
Closed2013 – 2019QuadrigaCX
The Canadian crypto exchange whose customer funds went missing after its founder died
Closed2015 – 2019Sinemia
The cinema subscription app that let film fans go often for a fixed monthly fee
Closed2012 – 2019uBiome
The testing start-up that sequenced the human microbiome from samples taken at home
Closed2006 – 2018Wonga
High-cost, short-term online loans approved in minutes
Closed2003 – 2016Gawker Media
The blog network behind Gawker, Gizmodo, Kotaku and Lifehacker
Closed2012 – 2016Phorm Türkiye
A company that used internet provider data to target ads based on browsing habits
Closed2006 – 2015Grooveshark
The music service that grew on user-uploaded songs and was closed by copyright lawsuits
Closed2013 – 2015Leap Transit
The San Francisco bus service that tried to turn the commute into luxury with leather seats and Wi-Fi
Closed2012 – 2014Aereo
A streaming service that brought local TV channels online through tiny rented aerials
Closed2008 – 2011İçkisepeti
The Istanbul site that delivered alcohol to your door in about half an hour, 24 hours a day, 7 days a week
Closed2000 – 2010LimeWire
The peer-to-peer file-sharing program that became the emblem of music sharing on the Gnutella network
Closed1999 – 2001Napster
The peer-to-peer file-sharing app that took MP3 music sharing mainstream
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This section is compiled from public sources (Wikidata, news archives and company announcements). Figures are given as they appear in those sources; unknown fields are left blank. If you spot a mistake in an entry, you can send us a correction.