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Troubled Startup Color Loses Cofounder Peter Pham
Color has been controversial because it raised so much venture capital – some $41 million – and had such a lousy launch reception. The service creates proximity based social networks based on who’s around you, a promising idea. But one that Color has so far failed to execute on.
In late April I criticized Color for making misstep after misstep and asked “How many do-overs does a startup get before users give up on it for good?”
This is another black mark for Color. We’ve heard mixed messages as to why Pham is leaving, but it’s never a good sign when a cofounder and executive leaves a startup just a few months after it launches.
So far, the company won’t comment about this story. And Pham hasn’t answered my phone calls.
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