After all all the juicy gossips failed to push it par success, Juicy Campus has finally taken a bow. The network provided a platform for college students to create gossips and spread it anonymously. Its CEO, Matt Ivester spoke n the service’s demise stating:
Unfortunately, even with great traffic and strong user loyalty, a business can’t survive and grow without a steady stream of revenue to support it. In these historically difficult economic times, online ad revenue has plummeted and venture capital funding has dissolved. JuicyCampus’ exponential growth outpaced our ability to muster the resources needed to survive this economic downturn, and as a result, we are closing down the site as of Feb. 5, 2009.
I wish my colleagues could read this blog. Your quote: “a business can’t survive and grow without a steady stream of revenue to support it” is very true. You also have to cut expenses. That’s what many companies are doing. That means that you may have to sacrifice. Instead of traveling overseas or miles around the country, you may have to start teleconferencing or utilizing web conferencing from sites like http://www.24conference.com. In these tough times, it’s not uncommon hearing about a business person giving up a luxury or two.
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I guess they should have done the same. But JuicyCampus is an example of a services soaring high up and then fading away.
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