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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.
Sean Park has an interesting take on this in his
Park Paradigm blog. Budding info-entrepeneurs form a line over here.
Nathan Gilliat, at the Net Savvy Executive, who covers social media monitoring and market intelligence, also has some comments
Roger Ehrenburg - one of Monitor110's backers - offers a salutary post (mortem) here -
Its worth a read. He cites and expands upon seven mistakes:
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 :-)
16 Nov 2005
This post is from a series of posts in the group:
A community for discussing the application of Web 2.0 technologies to financial services.