Peter Pham, the president and a cofounder of mobile social startup Color, is no longer with the company, we’ve heard from multiple sources. The company launched publicly less than three months ago.
Color has been controversial because it raised so much venture capital – some $41 million – and had such a lousy launch reception. The service creates proximity based social networks based on who’s around you, a promising idea. But one that Color has so far failed to execute on.
In late April I criticized Color for making misstep after misstep and asked “How many do-overs does a startup get before users give up on it for good?”
This is another black mark for Color. We’ve heard mixed messages as to why Pham is leaving, but it’s never a good sign when a cofounder and executive leaves a startup just a few months after it launches.
So far, the company won’t comment about this story. And Pham hasn’t answered my phone calls.