The over-valued photo-sharing app that has come to symbolize all the failings of the social-media tech bubble, is closing down. And, turns out, things were even worse at the startup than anyone inside the bubble thought.
Color, the super-overvalued photo sharing app, continues to be the epitome of the social media bubble gone bad, as the board has voted to "wind down the company," according to an email Venture Beat's Ricardo Bilton got a hold of.
The buzziest part of the economy — the social media startups centered in Silicon Valley — were once heralded as a way to kickstart the economy. Now that there's some good news on the job front — unemployment lower than it's been since January 2009 and 114,000 new jobs last month — it's clear that's not where job growth is coming from.
With Facebook's stock decline, the people who sold Instagram have also lost a considerable amount of their company's value because of poor negotiating tactics described by DealBook's Steven M. Davidoff.
With investors pulling their money out of Groupon, Facebook, and Zynga, one might be tempted to call this tech bubble burst, but other Internet start-ups have caught the attention of the venture capital world, keeping this thing going.
All the success of the Silicon Valley start-up scene hasn't done much for the rest of the area's economy, which has a higher than unemployment rate than the national average.
After The New York Times's Nick Bilton jotted down his observations of his first year living in Silicon Valley, we have two versions of the tech industry's relationship: casual millionaires who don't flaunt their wealth and people who rent tigers and big giant piles of snow for their house parties.
Both Kayak.com, an online travel booking site, and Palo Alto Networks, a network security company, made their market debuts this morning, the first tech IPOs since Facebook's abysmal debut. Their performances don't look anything like Facebook's.
Here's an interesting sign of the times: The tech companies that have gone public in tech bubble 2.0 may have big revenue streams, but don't make profits, according to statistics put together by IPO Dashboard.
Whole Foods banks on Father's Day to rise in the rankings, BIC knows you like to win, while Zuffa, better known by their UFC brand, got you talking about the free fight night.
At yesterday's launch event for Airtime, Sean Parker noted the Internet has gotten boring, repeating a variation on the same SoMoLo (Silicon Valley speak for social, mobile, local) theme over and over and over again — and then he launched something that looks like the rest of the Internet.
Following Facebook's IPO disappointment and subsequent stock market fizzle, the rest of Silicon Valley has started to feel the after-shocks, furthering our suspicions that this is a very selfish social media bubble.
One of the many groups that will lose out after Facebook's selfish (and somewhat failing) IPO are all the other tech companies that hoped to ride out the bubble Facebook was supposed to create.
The hilarious news that a 19-year-old entrepreneur secretly lived on AOL's Palo Alto campus for months reminds us of a very similar story from 2000 and makes us wonder just how closely we're repeating the history of the '90s tech boom and bust.
The spending culture at Facebook, just as we suspected, adds more evidence that this is a seflish social media bubble, which has kept its money relatively contained -- for good and ill -- to the tech world.
Before we watch Facebook be its public self at 11:00 a.m this morning, when its starts trading on the stock market, it's time to get caught up on what this all means. Before that bell rings in a few hours, here's everything you need to know.
If all the Facebook, Pinterest and Spotify over-valuation talk this week hasn't signaled a tech bubble, the spending happening in and around Silicon Valley should do the trick.
Dealbook's Evelyn M. Rusli reports that the music-sharing company Spotify is raising money as part of a deal that values it at $4 billion, and fresh off this morning's enormous $1.5 billion valuation for Pinterest, we can't help but fear this is more evidence of a social media bubble.
After receiving a $100 million investment from Japanese e-commerce site Rakuten, the "next Facebook," got a valuation 50 percent bigger than the already unbelievable price of Instagram.
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