We introduced Spotplex in February 2007 as a potential Digg killer that served up popular stories by monitoring how many people read them. Somewhere along the way, it also turned into an Alexa-like analytics service. Unfortunately, neither market worked out for them and they’ve been forced to shut their doors.
CEO Doyon Kim says that the company’s ultimate failure was due to a lack of adequate funding. The company underestimated the resources that were required to build and maintain its service, and it neglected to seek venture funding after its $450,000 seed round. This is surprising given Kim’s experience in the industry: he co-founded DialPad, which was acquired by Yahoo in 2005.
Spotplex is now in the TechCrunch Deadpool.