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Social Networking - Wednesday, October 24, 2007

"It Sucks" Says Judy's Book CEO On Startup's Closure

Judy's Book CEO Andy Sack is a decent guy so we feel bad for him that he is having to shut down the business. Judy's Book is a services recommendation site that had raised $10.5M.

Sack told the Seattle PI: "It was a good idea but it was just going to take too long. Our investors were tired. We were getting traction, but not enough traction. The board members said there wasn't enough terminal velocity to see the types of returns that they were looking for." Investors who didn't appreciate the slow pace were Ignition Partners, Mobius Venture Capital and Ackerley Partners.

Is there a lesson here? For us its just that we read about so many social networks that take off that it seems like a layup and that's just not the case. $10.5M in funding puts even more pressure on you to get big or go home.

Read - Seattle PI