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[ 6 posts ] |
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Why the world's best photo startup is going out of business
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ProfessorF
What's a life?
Joined: Thu Apr 23, 2009 7:56 pm Posts: 12030
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Mon Jan 13, 2014 9:49 am |
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jonbwfc
What's a life?
Joined: Thu Apr 23, 2009 7:26 pm Posts: 17040
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Might be the best photo service, obviously not the best businessmen.
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Mon Jan 13, 2014 10:48 am |
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Amnesia10
Legend
Joined: Fri Apr 24, 2009 2:02 am Posts: 29240 Location: Guantanamo Bay (thanks bobbdobbs)
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Yes but most internet start ups have that cost to sales ratio to start with. They need customers before they can get the revenue. It is how badly they managed the transition to monetizing their user base that makes the difference.
_________________Do concentrate, 007... "You are gifted. Mine is bordering on seven seconds." https://www.dropbox.com/referrals/NTg5MzczNTkhttp://astore.amazon.co.uk/wwwx404couk-21
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Mon Jan 13, 2014 4:01 pm |
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timark_uk
Moderator
Joined: Thu Apr 23, 2009 6:11 pm Posts: 12143 Location: Belfast
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I had never actually heard of this company before this article. Mark
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Mon Jan 13, 2014 10:55 pm |
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jonlumb
Spends far too much time on here
Joined: Thu Apr 23, 2009 6:44 pm Posts: 4141 Location: Exeter
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It makes for interesting reading, and does a very good job of illustrating a point that people like Jason Fried and David Heinemeier Hansson of 37 Signals have made, which is that trying to start a company with venture capital etc. always sets you off on the wrong foot. If you bootstrap the company instead, it sets you off on the mindset of needing to make money, which was something these guys seemed to have sorely lacked.
_________________ "The woman is a riddle inside a mystery wrapped in an enigma I've had sex with."
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Tue Jan 14, 2014 9:17 am |
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jonbwfc
What's a life?
Joined: Thu Apr 23, 2009 7:26 pm Posts: 17040
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Yeah, their plan definitely seemed to be along the lines of 1. make a cool thing 2. 3. profit
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Tue Jan 14, 2014 10:26 am |
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