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December 19, 2005
Riya: Not for Sale (At Least Not Yet)
A few weeks ago, seemingly every A-list blog had Google buying the photo service Riya, which won't even launch to the general public until the Demo conference in February. (You didn't read about the deal here, though, since the rumors couldn't be confirmed--apparently for good reason.) Now, Riya CEO Munjal Shah has the word on his blog: They're staying independent, at least for now. Investor Peter Rip explains what's really been going on:
We were in the middle of a financing. Plain and simple. And Riya had multiple attractive options. None of us commented because you don't talk about stuff until it's done.
Of course, anything can still happen, as even Munjal's and Peter's posts seem to indicate. But for now, it's nice to see a company going its own way instead of selling out to GYM (Google, Yahoo, and Microsoft).
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Many companies such as Riya are spending next to nothing on marketing, yet achieving great results and publicity. Take for instance companies like Salesboom.com and Entellium, with less than 1% of the salesforce.com marketing budget yet are acomplishing great results as well.
I think the good technologies must stay away from VC money, until they grow their business the Riya way.
Posted by: CRM Dog at November 29, 2006 02:17 PM