Color: We Are “Not Shutting Down”
Color is the photo sharing startup company that is known for raising $41 million in venture capital and has been struggling ever since. Their user count is not that great despite a deal that they signed with Verizon. The company pivoted from a mobile social network service to a video status update service back in December 2011. Color should have taken the $200 million offer from Google (rumor) when they had the chance.
VentureBeat based the rumor on an e-mail that they received that said “As you may or may not have heard, Color is going through a number of changes. Last week, the Board and major shareholders voted to wind down the company.” Supposedly this e-mail was sent around to Color employees and now executives at the company are trying to figure out where this e-mail originated from.