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September 28, 2012 10:04 pm GMT
Sources tell us there is turmoil at the executive levels of Color Labs, the startup that launched with a focus on photo-sharing but quickly became a poster child for Silicon Valley hype after landing more than $40 million in Series A funding but failing to gain any real user traction. In recent months the company's leadership has been in a state of flux, we're told -- and some are attributing the instability to Color's charismatic but controversial founder Bill Nguyen.As with any startup drama, there are many moving pieces here. But after weeks of discussions with multiple sources very close to the situation, we're pretty confident that Nguyen has backed away from the typical duties of being CEO, although he retains the title in name.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/M47XEllKX0M/
Color CEO Bill Nguyen Checks Out Of Day-To-Day Operations, While A New Leadership Team Re-Tools
Sources tell us there is turmoil at the executive levels of Color Labs, the startup that launched with a focus on photo-sharing but quickly became a poster child for Silicon Valley hype after landing more than $40 million in Series A funding but failing to gain any real user traction. In recent months the company's leadership has been in a state of flux, we're told -- and some are attributing the instability to Color's charismatic but controversial founder Bill Nguyen.As with any startup drama, there are many moving pieces here. But after weeks of discussions with multiple sources very close to the situation, we're pretty confident that Nguyen has backed away from the typical duties of being CEO, although he retains the title in name.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/M47XEllKX0M/
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