Specimen 012 — Color Labs: The $41M Photo App That Needed a Crowd
Color Labs launched a photo-sharing app in March 2011 that merged pictures from nearby users into a shared stream. Investors had put $41M into the company before launch. By September 2011, the app had fewer than 100,000 active users. The app later drew complaints about missing features, technical problems, and poor user experience; investors and board members voted to cease operations in December 2012, with $25M still unspent. The app closed on Dec 31, 2012. 12
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