Feeds

Not even 1.4m users can save 4Chan founder Chris Poole's startup

If Moot can't turn a quid from an app, what chance do you have?

Mobile application security vulnerability report

Being the (in)famous founder of 4Chan looks like a pretty good platform from which to kick off a mobile application startup.

But not even Moot, one of the visual forum's founders, has been able to make a go of it with DrawQuest.

That's despite, as he writes here, 1.4m downloads over the last year, 25,000 daily users and 400,000 users in the last month.

Moot's post about the decision to wind up the company doesn't explain just what went wrong, other than to say “Although we arguably found product/market fit, we couldn’t quite crack the business side of things.”

“As we approached the end of our runway, it became clear to us that DrawQuest didn’t represent a venture-backed opportunity, and even with more time that was unlikely to change,” he continues, adding that “it’s my goal to use what little money we’ll have left after the wind-down to keep the service alive for another few months.”

Some speculative dot-joining leads Vulture South to opine that DrawQuest did well at winning users, but terribly at turning them into enough cash to become a self-sustaining entity, or even an entity its venture capital owners perceived as potentially saleable.

Moot's not alone in finding it hard to make a go of a startup. Venture capitalists don't expect every investment they make will pay off, instead trying to find one hit among several investments.

That Moot could not produce a hit is therefore no surprise, not least because things are tough in the app business with festive season app download rates collapsing, and Gartner has predicting that just one in 10,000 apps will become commercially successful.

Moot now plans to write more about his startup experience, in the hope others can learn from it. ®

The Power of One Brief: Top reasons to choose HP BladeSystem

More from The Register

next story
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.