Color us surprised: this unknnown app attracted $41 million

Color us surprised: this unknnown app attracted $41 million

If you think an unknown Android and iOS app accompanying a pre-launch website is not worth a penny, you may be one of millions. But Color, as this app is called, attracted the mind-boggling not one, but $41 million of venture capital without much effort. The investment comes from Sequoia Capital in conjunction with Bain Capital and Silicon Valley Bank and is the largest ever invested by them in a website that's not yet released. The secret? The application promises to link you with other people based on the location of images you have taken. Cool? Yes. $41-million worthy? We doubt it.



The real secret, though, might be in the people standing behind this project, not the actual product they currently have. There are 7 founders including Bill Nguyen, famous for the Lala music service, which he managed to sell to none other than Apple and Peter Pham, ex-VP of business development in Photobucket. The whole project seems just like a regular social network, except for the fact that it relies largely on your location. The distance between you and other possible connection should be up to 150 feet, but this doesn't seem like it's going to spur a massive social network does it? If you're interested check it out on the Android Market and the App Store – it's free.



source: iTunes and Android Market via mocoNews


Color us surprised: this unknnown app attracted $41 million
Color us surprised: this unknnown app attracted $41 million


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8 Comments

1. ricky unregistered

this app is confusing

2. jogutier

Posts: 324; Member since: Feb 12, 2010

They must of pulled it, cause I don't see it in the market place. :(

6. yooz-ur-brane unregistered

Thats because its for apple ios only!

7. yooz-ur-brane unregistered

I could be wrong but I havent seen it for android yet.

3. testman22

Posts: 339; Member since: Nov 03, 2009

imagine being able to make 1 app and then retire... must be nice

4. ChaCha unregistered

The app name is "COLOR" with a colorwheel as the icon. They didn't remove it :)

5. brad unregistered

well...they should remove it. it's the lamest thing ever. these investors are getting dupped. HA.

8. Mantastic unregistered

it is showing as Color beta. I do not see it being worth 41 million.....

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