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Steve Ellis - Metia

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Monitor110 posts its own obituary

17 July 2008  |  3209 views  |  1

PaidContent seems to have the scoop on this story, Monitor110 has announced it is to close its doors. The reason stated is inability to close a second round of VC funding, after raising an initial $11m in late 2006.

There are lots of companies entering the sector that Monitor110 formerly inhabited, it'll be interesting to see whether they prosper. I'd expect further consolidation and/or fallout.

Monitor110 had high profile venture investor - and blogger at Information Arbitrage - Roger Ehrenberg as one its backers.

TagsOnline banking

Comments: (3)

Paul Penrose - Finextra - London | 18 July, 2008, 10:34

Sean Park has an interesting take on this in his Park Paradigm blog. Budding info-entrepeneurs form a line over here.

Steve Ellis - Metia - London | 21 July, 2008, 07:39

Nathan Gilliat, at the Net Savvy Executive, who covers social media monitoring and market intelligence, also has some comments here.

Steve Ellis - Metia - London | 23 July, 2008, 18:42

Roger Ehrenburg - one of Monitor110's backers - offers a salutary post (mortem) here - http://feeds.feedburner.com/~r/InformationArbitrage/~3/339382767/monitor110-a-po.html.

Its worth a read. He cites and expands upon seven mistakes:

  1. The lack of a single, "the buck stops here" leader until too late in the game
  2. No separation between the technology organization and the product organization
  3. Too much PR, too early
  4. Too much money
  5. Not close enough to the customer
  6. Slow to adapt to market reality
  7. Disagreement on strategy both within the Company and with the Board

There are some good points in there for anyone wanting to start a business.

Number 4 - is very true. Strangely I have always felt too much money can distort and confuse start ups from the task in hand: just get the product/service to work well enough a customer wants to use it, world domination can wait.

Number 3 - makes me smile. PR always gets the blame. Here its too much PR :-)

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