Social network for night owls MingleNow appears to have been a victim of Yahoo’s recent acquisition of BlueLithium. According to a post on the service’s blog, MingleNow will officially close on January 7th. No official explanation has been made for the closure. We assume that Yahoo simply isn’t interested in maintaining another social network, especially since its purchase of BlueLithium was for its ad network, not its other holdings. See our early coverage of MingleNow here. The product is now in the deadpool.
Edgeio, a company I co-founded in 2005, had a final board meeting this evening and made the decision to shut down operations of the company. We are putting it into the TechCrunch DeadPool.
Edgieo first launched in February 2006 after a beta period. The company raised a small angel round of financing, then in October 2006 closed a $5 million Series A from Intel Capital and Transcosmos.
These are the first of many sites that will go by the wayside soon, you know it’s bad when one of the top web 2.0 news pioneer’s company goes under. Many people see this as a bad thing, but all I see is opportunity. There are so many fly by night operations that just throw up a website and raise a bunch of money, just to pay it out for things like unneeded equipment and employees. Companies that have a lot of people and money loose the essentials of a successful startup - very little money going out, test the idea, refine, repeat.
I have yet to have a successful startup, but that will not stop me from realizing that dream. I’m still here, while many other startups have gone by the wayside.
I tell people that to have a successful startup, you need to need to use the “Spaghetti Theory” theory I came up with. Keep throwing noodles (startups) at the wall, until one sticks.
To all of you with startups, hang in there, because the users of these failed sites will need to spend their time somewhere…
Complete Plenty of Fish review and other dating site reviews and rankings from a matchmaker’s perspective.