Despite the fact that Raden suitcases had removable batteries, interest for the product seemed to dwindle as the months passed. This happened following various incidents with hoverboards and other lithium battery-powered devices starting fires during flights. The real trouble started when the airlines put a ban on lithium batteries that could not be removed from their devices. It was around this time that competitors like Bluesmart and Away began to really make their presence felt, and there was an increased urgency to invest in advertising. By 2017, the company was operating on a bare-bones budget. This meant that much of the money raised until that point went into meeting the outstanding demand. Early projections showed the company would reach $ 10 million in sales by the following year, and the sky was the limit.Īfter the initial product boom, Raden found itself in a situation where it was cash-rich, but inventory-poor. Retailers from all over the world were back-ordering and there was a waitlist of over 7000 people waiting to own a Raden suitcase. Within just a few months, and after an enthusiastic endorsement by Oprah, Raden had completely sold-out its entire inventory of 19,000 suitcases. Raden’s luggage was unique because it had an integrated battery that could be used for tracking and for charging your phone or tablet. That was the start of Raden, a technology startup that made and sold a line of smart luggage. In 2015, Josh Udashkin decided that it was time to disrupt the luggage industry. There’s always a silver lining, even on Friday the 13th.
The French drone services company even took along the 26 employees who ran the technology and proudly announced the addition on their website earlier this year.
On the upside, Airware’s Redbird analytics software will live on, thanks to a buyout from Delair. The company ceased operations in September of 2018. Unfortunately, the change came too late and the funds had already run out.
They were re-engineering everything from drones to processors to their own autopilot OS.įounder Jonathan Downey eventually decided to change tactics and focus more on software development, because there was just no way to compete with the cheaper alternatives being produced in China. The company is rumored to have spent exorbitant amounts of money developing its own equipment, under the belief that existing products were just not good enough. In a nutshell, they helped companies digitize their information and turn aerial data into usable business intelligence. This was a safe, practical and cheap alternative to more traditional options, like the use of helicopters and rigs that would often put human workers in danger. Some of their target industries included mining, construction, and insurance, where they used drones to review equipment damage from an aerial perspective. Drone analytics provider, Airware (2011 – 2018)Īirware used commercial drone services to help companies improve their operational efficiency. Let’s hope the new Shyp has better luck this time! 2. Earlier this year, only a few months after shutting down, news began to surface that Shyp was preparing to open its doors once again, under new management. By the time founder Kevin Gibbon decided to slow down the growth and re-calibrate his business model, it was too late.īut not all is lost. Shyp users were mostly individuals, who shipped items sporadically and were therefore not the dependable clients needed to sustain a business.
Another pitfall was the audience they were targeting. They ended up having to hike up their prices for bigger packages which spawned a backlash with clients. The flat $5 fee for their services became challenging to sustain given how varied their customer’s packages were. Eventually, consumer growth began to slow and Shyp was unable to sustain all the expansions.