color.com app
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- 14 Responses
- manonthestreet
I am surprised no one has posted about this yet.
Timeline?
I found it to be a complete bore.
- set0
Pretty logo... apart from that complete and utter meh
- Andrew_D0
"A group of funds, including Sequoia Capital, gave the company $41 million, and Sequoia’s chunk (as Color proudly noted) is more than the fund invested in Google."
http://gigaom.com/2011/03/24/is-…
It is boring, but apparently they've got backing.
- and unlike Google, the idea is stupid, totally useless and the revenue model is non-existant.Boz
- scenek0
we played with this at the office yesterday. feel like i'm still not seeing the potential. was fun for a couple minutes.. my coworker got banned for a penis drawing on a post-it note haha.
the amount of money they got is crazy.
- Andrew_D0
So have we reached a point in app development where the "wow factor" isn't there? Is saturation killing the market?
I thought iMovie (http://www.apple.com/ipad/from... for iPad was cool, but I haven't seen many other app's that are forcing an "I need that" response.
I think ABC has done a good job integrating media into their broadcasts: http://www.wired.com/epicenter/2… There's a lot of opportunity for innovation in that area, as long as the content is king and we're not mindfucked with advertising.
Seems somebody is a little bitter at the funding Colour received: https://docs.google.com/present/…
- Boz0
it's another bubble.. stupid shit gets crazy financing and will drop like mofo.
What the hell did they waste millions of dollars on already?
The whole idea is stupid because people just don't care about strangers and what they eat or drink in a bar or take pictures of themselves so everyone can see that's not somehow related to them.
Let's just look at it from a logical point of view.. you take a shot of a party.. you'll most likely post it on Facebook for your friends to see, but not for every freak out there within your GPS area to see.
Not only the whole app is useless, the idea is totally creepy.
- Boz0
What's bad about this is that it's just continuing to create this new bubble that will burst. Everyone thinks they are genius, investors are so greedy they can't see past their desire to be the next facebook no matter how stupid idea is..and they'll put money up.. until we have the same thing we had in 90s.
- ESKEMA0
the idea would be nice if there was the ability for a private group creation, so only you and your closed friends pics would be added. as it is, it's just dumb.
- animatedgif0
all that money and they spelt the name of the Product wrong
- monNom0
lol
Lean. Agile. Organic.
Grass-fed. Locally grown. Acrobatic. Gluten-free. Hungry.
Rockstar. Gurus.
- CuriousGeorge0
What happens to the creators of this when the app totally flops and ceases to exist anymore? Are they on the hook for $41m? Just walk away with the money they saved from their overpriced salaries?
- Boz0
nothing.. it's not an individual borrowing money.. it's the company.. so when company flops the risk with it was something that investors carry.
The problem is that in majority of the cases your reputation as an entrepreneur is somewhat affected. So it might make it harder for you to get money later..but then again if you are well known startup guy and have proven success and this fails it's nothing really..
The bigger problem is that there is more and more stupid ideas like this getting a lot of funding.. and when they start failing the investments will dry up, just like it happened during the 90s dot-com bust. You see, if it was, investor giving money to only 1 person, it wouldn't be a big deal, but a lot of the angel investors and venture funds borrow huge amounts of money to many different startups.. they have full portfolio of companies.
Even though, many entrepreneurs don't take salaries or they take very little salaries when they start a company and get funding from venture companies, some, as in 90s, are basically taking huge salaries, bonuses and similar during the development of the platform.. they take that money and put it on their personal accounts naturally..that's why you see when they refer to 90s dot-com bust, 18 year olds driving ferraris and similar.. that's all investor money..
So when company fails, they just walk away, in the overall scheme of things, as you can see from color app, 41 million is TREMENDOUS amount of money.. it's insane and I'm almost positive that everyone involved with that company is milking that shit like crazy..
This is what concerns me really.. I can tell you right now, it has NEVER been easier to get investment money.. you are doing anything remotely interesting with social, content distribution or just like publishing apps you will get $500k to a $1 mill easy.