Yahoo acquires Ptch(blog.ptch.com) |
Yahoo acquires Ptch(blog.ptch.com) |
Our passion and our mission was to give you
the best way to make and share beautiful movies
made from the photos and videos on your phone.
Well, someone noticed!
...Ptch will shut down on January 2, 2014What type of announcement do you expect?
We appreciate that you signed up for and used our product.
Things haven't gone as well as we had hoped and we're
exhausted. The truth is we'd be shutting down the site
in due time anyway but this is a better option for us and
doesn't make any real difference for you, our user.
Edit: here's a thought.
Thanks again for your support of Product since our launch. It means the world to us, and it's been a terrific ride for us. Unfortunately, we haven't seen the broad usage of our service necessary to sustain it and we'll be shutting it down in X months. Luckily, BigCo is acquiring our team, which means that we'll have jobs making their quasi-similar product even better.
Here's how you get your data: (blah)
Here are some similar services you may want to consider moving to: (blah)
And then they were gone. I use Pidgin now, but I prefer just having it in the browser to use on any machine any time.
It was publicly available in the iOS App Store but didn't get much traction. I'm not sure what's left of the team, as I believe all of the original mobile engineers were already poached.
Can anyone tell me what ptch actually did?
"Our passion and our mission was to give you the best way to make and share beautiful movies made from the photos and videos on your phone."
"Make a ptch (pronounced "pitch") by combining the photos and videos on your phone, or using media from your social networks, like Facebook or Instagram.
Personalize it by easily adding captions, music, and effects."
/jk
How about:
"Thanks again for your support of Product since our launch. It means we're now in a position to get acquired by Yahoo. In other words, your support means we get money. We could gush about how much you mean to us, but really, we're running a business here, with the explicit goal of making money. We've done that now, so, thanks!"
After the liquidation preference the founders
(probably 1-3 people) are likely to get 90%
of the remaining proceeds and the staff –
those engineers that the acquiring company
so desperately wants – would ordinarily
receive a very small proportion.
Hopefully Ptch employees were making market wages, because an acquihire certainly won't net them much of anything.
I wonder if the founders feel any pressure from the acquiring company to spin the acquisition as purely positive without revealing the more than likely disappointing outcome.