Edgeio Shutting Down
Mike Arrington announced that Edgeio, the blog classifieds company nobody ever used, or had any use for, or ever returned any relevant results, has shut down for good (after they burn more than $5Million). There is no other news about this, as Keith Teare, the CEO, has not updated his blog since September 6th...
The company burned through that money according to plan, meaning they ran out this month. The product roadmap was fulfilled, meaning development lags didn’t hurt the company. But the revenues didn’t come in and user/partner milestones weren’t met. And that meant no one else was going to put more money into the company.
4 votes
