Color closing down. Gee what an absolute fucking surprise.

[Lexicon]

1) Built another photo-sharing app.
2) Raised $13 million in Series A funding and another $28 million in Series B.
3) Turned down $200 Million dollar offer from Google Ventures.
4) Average Salary at Color Labs: $250,000 a year.
5) Realized that after all the hype it's just a photo-sharing app.
6) Sells IP to Apple for $7 million dollars.
7) Closes down.

 

[dmnEPC]

This is not the first time this founder has done this. He has some very powerful friends

 

[Lexicon]

This is not the first time this founder has done this. He has some very powerful friends

Bill Nguyen or Peter Pham or both?

 

[mituozo]

1) Built another photo-sharing app.
2) Raised $13 million in Series A funding and another $28 million in Series B.
3) Turned down $200 Million dollar offer from Google Ventures.
4) Average Salary at Color Labs: $250,000 a year.
5) Realized that after all the hype it's just a photo-sharing app.
6) Sells IP to Apple for $7 million dollars.
7) Closes down.

There's a lawsuit between one of the founding employees and the CEO, too.

The CEO sounds like a right prick.

 

[dmnEPC]

Bill Nguyen or Peter Pham or both?

did you read those?

He also co-founded La La Media Inc. in 2005. Apple acquired LaLa in December 2009. The service shut down in April 2010 with users getting credits on the apple itunes store.

edit
from Wikipedia

Lala.com was purchased by Apple, Inc. on December 5, 2009 for more than $80M.[11]
On April 30, 2010, Apple announced that it would be shutting down lala.com entirely on May 31, 2010.[

 

[BlokBlok]

Bill Nguyen is such a pre-madona, Steve Jobs wanna be faggot.

 

[greenleaves]

Bill Nguyen is such a pre-madona, Steve Jobs wanna be faggot.

Honey badgers get jelly?

 

[BlokBlok]

Honey badgers get jelly?

No

 

[vinnythejinny]

everyone wants instamoney

 

[redmonkey]

did you read those?
edit
from Wikipedia

No, Did YOU even read it before posting?

He was later sued by one of the former Color employees for retaliation, and causing emotional distress.[8]

One key thing to note is that the suit says that Color’s assets have indeed been sold to Apple, something that has not been confirmed on the record by either company to date. Witherspoon claims in his suit that he was the only technical employee at Color who was blocked from joining Apple in October. Today, Color’s website notes that its app will no longer be available after December 31st, 2012.

What the fuck does this even mean? Sounds like someone got butthurt to me.

As far as I'm concerned, he founded OneBox.com that was worth well over $850 mil and later found Lala.com and sold for $80 mil in just 4 years. That's fucking impressive.

 

[mituozo]

No, Did YOU even read it before posting?





What the fuck does this even mean? Sounds like someone got butthurt to me.

As far as I'm concerned, he founded OneBox.com that was worth well over $850 mil and later found Lala.com and sold for $80 mil in just 4 years. That's fucking impressive.

$850m in 1999.

Mr. Nguyen founded Onebox.com in 1999. It was acquired for $850 million in 1999 by Phone.com

Onebox says it has 2.5 million registered users, more than half of whom use the service regularly. Onebox had less than $1 million in sales last year.

Instagram's sale pales in comparison with that, even. $850m for a company with $1m in sales, and just over 1 million active users? How many of those were even paying anything, dare I ask?

This was the period where you could sell basic web design work for 6-7 figures. The height of the dotcom boom where valueless shit was sold for ridiculous amounts of money.

After selling that at the perfect time, he had a network he could leverage for a second start-up, and a shit ton of capital. $80m isn't exactly an impressive exit when you have all that capital available. That company had well in excess of $30mm in private funding, and was given the axe when Apple realised it was a dumb ass buy about a year later. That sale price probably meant that the VC companies that invested in it made next to no money.

I'm not one to usually shit on people's achievements, but he's someone who has IMO been hyped up beyond belief, whose main achievement was getting lucky in the dotcom boom. Since then he's failed multiple times.

His achievements are in no way comparable to founders of all sorts of successful companies since.

 

[dmnEPC]

$850m in 1999.





Instagram's sale pales in comparison with that, even. $850m for a company with $1m in sales, and just over 1 million active users? How many of those were even paying anything, dare I ask?

This was the period where you could sell basic web design work for 6-7 figures. The height of the dotcom boom where valueless shit was sold for ridiculous amounts of money.

After selling that at the perfect time, he had a network he could leverage for a second start-up, and a shit ton of capital. $80m isn't exactly an impressive exit when you have all that capital available. That company had well in excess of $30mm in private funding, and was given the axe when Apple realised it was a dumb ass buy about a year later. That sale price probably meant that the VC companies that invested in it made next to no money.

I'm not one to usually shit on people's achievements, but he's someone who has IMO been hyped up beyond belief, whose main achievement was getting lucky in the dotcom boom. Since then he's failed multiple times.

His achievements are in no way comparable to founders of all sorts of successful companies since.

Your missing sight of the fact that he is a master at getting Apple to buy shitty companies. That is a hell of an achievement

 

[mituozo]

Your missing sight of the fact that he is a master at getting Apple to buy shitty companies. That is a hell of an achievement

Oh yeah, he must be one hell of a sales person. I despise people like that though. All talk, no substance.

 

[markbush]

The substance is in his wallet.

Thats better as people creating substance but losing all because they had nothing in the wallet.

 

[blureach]

Company is denying that they are closed. I'm sure they will, but not yet.

 

[ly2 from WF]

and causing emotional distress.[8]

What kind of self respecting man sues someone for "emotional distress"?

 

[dmnEPC]

What kind of self respecting man sues someone for "emotional distress"?

The kind that comes from San Fransisco

 

[redmonkey]

Your missing sight of the fact that he is a master at getting Apple to buy shitty companies. That is a hell of an achievement

How is this any different than selling Acail rebill nobody wants?

 

[dmnEPC]

How is this any different than selling Acail rebill nobody wants?

Lol it's not. My whole point is, the only reason anyone knows his name is because he has friends with the big corporate cheque book that are in on his scam. The 1 thing he is good at is churn and burn

 

[turncoat]

I decided to enrich my vocabulary with more colorful and interesting ...frell euph. for 'fuck' or 'hell'. may have originated from the Farscape tv. absolute bunkum! that's bunk!