More on mysiouxfalls.com's Status
I received the following email from Joe Prostrollo at mysiouxfalls.com:
Lets just say, that we are going to retool it and see where it goes from here. The investors haven’t pulled the out of the company, its just that they wanted to see a return on their investment faster than 80 days. Hey, we did it, I guess. We covered the news in SF and “around the world in 80 days.” I don’t think it’s over yet, I have some options. Is it for sale? Nope, not yet.
We’ll have to see what happens in the future. I don’t begrudge anyone who starts a new business and tries something cutting edge. Hopefully, the next iteration of mysiouxfalls.com will be a financial, critical, and popular success.
Todd Epp
2 Comments
View Printer Friendly Version
Email Article to Friend
Reader Comments (2)
but to be honest, it's not an issue of 'cutting edge', 'bleeding edge' or the edge of anything. it's an issue of over-traditionalized business paradigms in the northern midwest.
i believe this endeavor seems to have been doomed from the start. had i the funds on hand to invest in such a venture, i'd have been a little worried about investing in this type of business in a segment of the marketplace that doesn't seem to have any substantial attraction to wanting to get its news semi-exclusively online.
conversely, were i the business owner, i'd be rather leary about investors who were impatient and foolish enough to demand an appreciable return-on-investment in just 80 days for a new market venture smack dab in the middle of one of the last bastions of old market philosophy. if they didn't understand that like almost any other business venture up here, this needed to be done slowly, patiently and carefully, they are perhaps not really qualified to be attempting to finance business endeavors.