Not even Arrington could save them

It was announced last night that Edgeio, a classified ads online site that was co-founded by Mike Arrington of Techcrunch and who remained on its' Board, is to close.

Apparently it wasn't generating the revenues necessary to remain a going concern and none of the investors was prepared to more funding in to support the company.

So, this is a useful reminder that sometimes businesses just don't make it, and not even the support of the mighty Arrington with his "online clout" can always remedy that.

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posted by John Wilson @ 10:36 AM Permanent Link newsvine reddit



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