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You could read this as a cautionary tale about the difficulty in launching a social networking service: Even with $1.6 million cash (earmarked for a development
by matthewsimon 12y ago
You could read this as a cautionary tale about the difficulty in launching a social networking service: Even with $1.6 million cash (earmarked for a development project in Pakistan) and 500,000 mobile phone subscriber records (stolen from the incumbent telecom), their free service couldn't reach 5% market penetration and was shut down when it ran out of money.
- aurumpotest 12y agoBut it said in the article that they decided to keep penetration under 1% of the population so as not to arouse suspicion. Plus, they had a lot more limitations than your average Silicon Valley startup. (edit: second point)
- ianhawes 12y agoThere was simply no way to monetize the service.