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Sellaband bankrupt / sold to the germans


Croakus

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Posted

I like how the author was smart enough to spell out why their system went bankrupt. Hopefully there will be some site that can replicate the same kinds of services and be prosperous.

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THe kicker for me:

“The problem is that the business model is not bringing profits,” said SellaBand founder Pim Betist. He left the Amsterdam-based company he conceived in 2001 as a Friendster-style approach to funding music, about a year and a half ago. “That’s why they’re suffering, and that’s why they went bankrupt, and now they need to let go of the concept.”

 

He walked away from the company he started knowing it was going to fail because his original concept was flawed. :eek: What a guy...

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