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A lender, Johnson Bank, sued Lefkofsky and won a default judgment of million.The former owner of Brandon reportedly sued the company, as did National Football League Properties and Major League Baseball Properties.

Lefkofsky began his first venture, athletic-apparel maker Brandon Apparel, which he and Keywell bought after graduating law school together, in 1994.

Before Starbelly, Keywell and Lefkofsky founded a sportswear company called Brandon Apparel. Everyone remembers things they said a decade or more ago they may regret today.

And failure is hardly something to be ashamed of in tech; usually it’s heralded as a mark of having shot for the moon, something to be prized and not frowned upon.

“It ended up being a huge failure,” Lefkofsky wrote on his blog.

At first, the company -- like Groupon -- saw fast growth, with revenue rising from million to million. “We over-leveraged the company and it eventually crumbled under the weight of that debt,” Lefkofsky wrote.

Lawsuits unleashed The risk of failure is inherent to entrepreneurialism.