This question was asked on quora.com. Most of the companies mentioned were victims of the dot.com bubble burst, so their predicament is quite understandable. However, this particular answer was just hilarious. The company was to take Uber head on. They had the resources, but then...

The most hilarious one is definitely Karhoo.

Founded in early 2015, by the end of the year Karhoo had raised a reported US$250m , and expected to launch its app 3 months later in London, New York and Singapore after apparently securing a network of 200,000 taxis and minicabs.


It planned to raise US$1bn in mid 2017.
The CEO and founder, Daniel Ishag, planned to take on Uber and “…level the playing field.”


A year after the reported US$250m raise and six months after the app launch, it shut down its service , with all the money blown, and with more than 100 staff out-of-pocket - ok, that’s the not so funny bit.


It later emerged that Karhoo had actually raised closer to US$30m, and the US$250m was just bullshit.


The incredible lack of financial controls were highlighted by Daniel’s own spending on the company’s credit cards - first class flights, designer shoes, £5,000 on vet bills for his pet dog!


The dog must have been wondering what the heck was going on. And now he’s back to his dog’s life, he’s probably still trying to figure out what the heck happened.


The odd thing is that it’s this type of bullshit and hype that sometimes gets entrepreneurs very very far. A good chance Daniel will be back with a vengeance…

Meanwhile I am waiting for Silicon Valley Season 5
https://www.quora.com/What-is-the-all-time-greatest-failed-Internet-startup