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Social Networking - Friday, February 5, 2010

EventVue Craters. Founders Explain.

Angel-backed EventVue has closed its doors. The startup has set-up a business to add some functions of offline events to the online world. Its application helped conference planners to register attendees by creating communities around their events. The founders - Rob Johnson and Josh Fraser - seem like a couple of good guys and they certainly provided an open and candid assessment of their failures on a blog post today.

They highlight a couple of key points. You may start a company with Web 2.0 companies but you are in fact an enterprise software company selling to businesses and dealing with their long cycles. And just because you are making something cool doesn't mean that you are necessarily generating revenues that you can get a piece. We would also add to their post-mortum that when you are targeting a niche industry - like events - it helps if you have worked there. For sure lots of good businesses have been started by outsiders but it can take them more time to learn the ropes.

Eventvue has won $300K in funding. The startup was one of ten in the local TechStars incubation program in 2007. The funding was led by Foundry Group Managing Director Brad Feld, with TechStars' David Cohen, Dave McClure, and others.

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