By now you have heard that the CEO of Color, the failed photo app, Bill Nguyen is reportedly out of the company. The entire story behind the company that we knew of to date has been interesting to say the least. From the flaunting of its $41 million raised in venture capital from big name venture firms such as Sequoia, the promise to deliver one of the most innovative applications that we had seen in years, to the supposed all-star talent — none of it mattered.
The only thing impressive about the company (to date) was its theatrical launch which focused more on the vast amount of money it raised in venture capital, and less about the application itself because it was so difficult to figure out how to use that it was just bound to fail. As far as I was concerned though, even after the rocky launch, the all-star founding team could still make the company work and get a better version out of the door. That never happened. The other two co-founders left, the product fell apart, and Bill spent his time vacationing, rather than being in the office figuring out how to reinvent the company. How could it be any worse? It turns out it could be, and was worse, way worse.