There are plenty of hyped start ups who get tons of publicity in the leading blogs and news media in their heydays but when they go under, there isn’t much mention about them. The only time you typically hear about them again is when the founders resurface under the banner of a new venture or cause.
Mobio Networks was a startup that received a good deal of publicity from Venturebeat, Mashable and $9million in funding in 2007 because of their nifty mobile ‘lifestyle’ services and widgets for mobile consumers. However, based on the note on their now defunct website, they have folded their business (at least in the US).
“Mobio Networks is winding down its US operations. As a result most of our portals and apps are currently “off the air”. We appreciate your patience as we work through several alternative ways to bring back the services.”
User comments and valley rumors seem to indicate that their downfall was caused by their inability to execute and the VCs pulled out (probably in that order). This should be a lesson to all start ups that funding isn’t everything, ability to execute is key. If you are not able to execute or monetize and the funding dries up, your venture is on its way to becoming the latest Silicon Valley roadkill.
I heard that the company founders are still in the valley working on their next mobile venture, this time it’s in the B2B space. I’ll add more details as I find out.