Deadpool Claims Another Victim Edgeio

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Deadpool Claims Another Victim: Edgeio

By: Mathew Ingram
2007-12-07

Mike Arrington is between a rock and a hard place this morning: He has some news about a failed Web 2.0 company joining...

...the Deadpool, but its a company he co-founded and is on the board of, the classified-ad company Edgeio. Mike and the rest of the board decided to shut the company down " a decision that was probably relatively easy to make, since it had apparently run out of money.

Edgeio seemed like a good idea to me when it launched: A kind of distributed version of Craigslist, in which ads would be pulled from wherever they were " sitting on blogs or whatever, provided they had the right tags " and then aggregated at Edgeios site. But like Frederic at The Last Podcast, I never found much of value there, likely because not enough people decided to get on board and tag their posts properly.

Its interesting to read the comments on Mikes post, as he responds to some of the obvious questions about the failure of the company, including What the hell did you spend $5-million on (Mike says: Parties, scotch, hookers, blow. You know, the usual) and Isnt it ironic that you, the king of Web 2.0, have a company fail because it cant find a reason to exist? (That is indeed ironic, Mike says).

The unfortunate part is that Mike no doubt has tons of inside info on what happened at Edgeio and where it went wrong, but he cant talk about it. The only thing he says is:

In general Ill say this - it is unwise for a company to spend a lot of money building out infrastructure before a product proves itself.

Good advice.

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Tag: Deadpool, Edgeio

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About the Author:
Mathew Ingram is a technology writer and blogger for the Globe and Mail, a national newspaper based in Toronto, and also writes about the Web and media at www.mathewingram.com/work and www.mathewingram.com/media.


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