They did it in a classy way. The “they” refers to Jaydev Mahadevan and Ankur Kumar, Co-Founders of Orzata, one of the start-ups in this year’s inaugural autoXLR8R. The “it” is the decision to suspend their start-up effort.
We profiled the company earlier this year in this teknovation.biz post.
In an email received late Sunday, the duo said the following:
After careful and lengthy consideration, we have decided to shut down Orzata.
Finding a product/market fit for Orzata has been extremely challenging. We have worked hard for the last year and a half, but we still haven’t been able to release the right product that our customers want. As a result, we think it’s best that we turn our attention to the next phase of our careers.
Although Orzata failed to launch, we still consider the autoXLR8R experience to be a great success due to the amount that we learned and the amazing people that we met in such a short period. Both of us really appreciate how each of you donated your time, expertise, and connections to help us succeed, even when the path was not clear.
If there is any way we can assist you with your next project or venture, we would love to keep in touch.
There is little doubt these guys will succeed long-term.