Formspring is shutting down.
Adam Rifkin stashed this in Silicon Valley!
Amount of venture capital raised: $14 million.
Years in business: 4.
Users: 28 million.
It's the rare public failure of a consumer Internet company with tens of millions of users.
Startups that get that big rarely die. Usually someone buys them.
I think Tumblr was the service that siphoned their traffic.
Plus Formspring never figured out how to monetize. Too many teens.
Take note, SnapChat, Viddy, etc. Exponential growth sometimes leads to exponential decay.
I agree. Tumblr asks are very popular, everyone I knew who used to use Formspring switched to Tumblr months ago.
Everyone I know who used to use Formspring switched to Tumblr a year or two ago.
Yeah, the more I think about it, the more I think Tumblr specifically did them in.
Not Facebook or Twitter.
14M divided by 32 employees divided by 4 years = avg salary of $109,000/year.
14M divided by 28M users = $.50/user.
Both not bad metrics.
Not bad at all. I wonder why they were unable to build something more valuable.