I’m obsessed with this story right now.
via soupsoup:
Color received three times more than Facebook did in their initial round of financing (via The Daily)
$41 million is closer to the capital needed to create a new mobile device, not a new mobile application. After reading the story, it seems that - despite whatever the founders and VCs say - this was the result of a speculation rush. Given the risks being taken here… it’s bad for the founders, it’s bad for the investors, and it’s bad for anyone else in the industry seeking capital now or in the near future. And that’s giving the benefit of the doubt and assuming the idea has market success.
If you value the interactive media industry, you will be FURIOUS that Color, Sequoia, Bain et. al. have purposely created a market-disrupting event for the purposes of their own greed and hubris. If their idea is so great, they shouldn’t need any publicity stunts like this.
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knucklewalker reblogged this from rickwebb and added:
I just can’t figure it out.
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emmawelles reblogged this from rickwebb and added:
I love how every rich asshole is practically throwing money at nerds in startups lately. I don’t know how much longer...
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brianvan reblogged this from mrmattspangler and added:
$41 million is closer to the capital needed to create a new mobile device, not a new mobile application. After reading...
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theslowwink reblogged this from soupsoup and added:
what the hell is...and why is it getting so much money
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mrmattspangler reblogged this from soupsoup
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rickwebb reblogged this from soupsoup and added:
ALL OF THOSE COMBINED.
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sanityscraps reblogged this from soupsoup and added:
What the hell is Color?
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