theverge.com – Everpix: Out of the Picture

Pops to StartupOver.com

Picture credit: startupover.com

(Corrections made on May 26, 2014 – 1:00am)

This is an easy story.

It’s everything a VC wants to see.

  • A young team with previous startup success
  • A hot market segment – digital photographs
  • Critical acclaim from the segment press
  • Incredibly good features – that users raved about
  • Early acquisition attention from larger better-funded startups
  • $1.8 million in Seed Capital
  • An 18 month runway after funding
  • Double the conversion rate (12.4% vs 6%) of the industry average
  • 50+% user retention

What went wrong?

  • Too much time on technical details
  • Not enough user signups (55,000 users/8,600 paid)
  • Expensive infrastructure – $35,000/month for AWS

I also want to add, I ran into these guys at some event. They were a bit snooty. I could have been the moment.

I’m also adding – as one of the members said, “It succeeded in every possible way, except for the only way that matters.”

Out of the picture: why the world’s best photo startup is going out of business
http://mobile.theverge.com/2013/11/5/5039216/everpix-life-and-death-inside-the-worlds-best-photo-startup
Nov. 5, 2013
How A $35,000 Bill From Amazon Helped Put A Startup Out Of Business
http://www.businessinsider.com/how-a-35000-amazon-bill-ended-everpix-2013-11
Nov. 5, 2013
Everpix_CEO_Pierre_LatourThe Everpix Story – w/ former CEO Pierre Latour – (Video: 56+minutes)
http://new.livestream.com/500SAcc/everpix
Tue Jan, 28 2014
NOTE: In this video, it appears Pierre is still in self-denial.
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