(sorry about the hater-post)
What is wrong with this picture? Seriously.
The next Google?
Sequoia has just funded a startup that is creating a mobile app, called Color, that lets you share photos with people who are in close proximity of you.
They have so much faith in this product, that they’ve pumped 41 million dollars into the company right off the bat. They even said that they haven’t seen a company like this one in 10 years (or since Google):
“They told us that every 10 years or so a company and a marketplace and an opportunity come together that’s transformative,” Nguyen said. “They told us, ‘Not since Google have we seen this.’”
This makes no sense to me, because it sounds like almost every other location based, group sharing app out there. And Jacques Mattheij put it much better than I can
But I guess that’s what everybody said about Google 10 years ago. “It’s just another search engine”.
So there must be a secret ingredient that we are unaware of that is the root of this valuation. Some way of monitization or a new level of customer engagement. There must be.
“Activity Color (in application Color) is not responding”
It took exactly 1 minute for this app to crash my phone. Ok, granted that when they created the application they probably had not received the funding. And I guess it’s so hard to find android/iphone developers these days that just having them increases your valuation immensely.
But it seems weird that a technology company that investors have so much faith in can release an application that works so poorly.
Somehow I can’t picture Larry & Sergei releasing an application of this quality back in the day..
Of course the internet is having a field day with this whole thing and somebody creating this hilarious slideshow pitch, making fun of the whole thing.