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Great read that shows what caused the downfall of a venture-backed startup. First paragraph:
"For those unfamiliar, Sonar Media Inc. was a mobile app created to help make the world a friendlier place. Our mobile app buzzed in your pocket when friends were near and ushered in a new wave of “Ambient Social Networking” companies. Downloaded by millions of people all over the world, Sonar was promoted by Apple and Google in 100+ countries, won numerous awards such as runner-up at TechCrunch Disrupt and Ad:Tech Best Mobile Startup, raised nearly $2,000,000 from prominent angels and VCs, and was featured on more than 300 publications including the New York Times, CNN, CNBC, TechCrunch, and TIME.
And yet, we failed."
https://medium.com/p/72c6f8bec7df#!
"For those unfamiliar, Sonar Media Inc. was a mobile app created to help make the world a friendlier place. Our mobile app buzzed in your pocket when friends were near and ushered in a new wave of “Ambient Social Networking” companies. Downloaded by millions of people all over the world, Sonar was promoted by Apple and Google in 100+ countries, won numerous awards such as runner-up at TechCrunch Disrupt and Ad:Tech Best Mobile Startup, raised nearly $2,000,000 from prominent angels and VCs, and was featured on more than 300 publications including the New York Times, CNN, CNBC, TechCrunch, and TIME.
And yet, we failed."
https://medium.com/p/72c6f8bec7df#!
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