Why do I have to comment on the newly released mobile app Color?
Almost every publication that I read has already written something about Color--including the LA Times. I really won't add anything to the conversation, except of course my invaluable opinion. Wait was that The Los Angeles Times? Mainstream media coverage?
I really can't let the LA Times and the rest of old media beat me to the punch can I? Well, I guess I can as they already have by definition of this blog post.
Please note that Color was literally released to the public on March 23. The LA Times had a copy written and ready for morning delivery of their March 24 newspaper. I cannot remember the last time a startup with zero users had this much coverage. Not only is the LA Times not a tech journal, but they don't write about Tech nearly as much as say the Wall Street Journal with All Things Digital or the New York Times with Bits.
There's been a lot of clamoring over the $41 million raised before a product was released or users were attained [let's not even mutter the words revenue here]. What cannot be denied is that the $41 million bought them quite a large amount of publicity.
Now its time to do something with it.
*Note: I like to ask a lot of rhetorical questions.
*Read this for more insight into the massive amount raised: http://techcrunch.com/2011/03/24/color/
*An important distinction is that $7 million of the $41 million is venture debt from Silicon Valley Bank. This makes me think that the team didn't raise an overinflated round and actually has distinct plans to put all this money to use soon. Although, putting money to use doesn't mean much in the end--I'm looking at you, Webvan.
