Dipsie shuts, already. Has the luck gone at 165 University?

February 17, 2006 | Matt Marshall | Comments | |

Updated

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Just three months after launching, Dipsie, the company that was much anticipated last year, and which helped Web site owners reveal content that was stuck in the “deep web,” has pretty much shut down. Chief executive Jason Weiner resigned unexpectedly just before the holidays.
We wrote about them here.

This company was at 165 University Ave, where Google, PayPal and others went before and which was supposed to be the valley’s luckiest spot. Even the landlord, through his Amidzad fund, was an investor. (Update: We bumped into Jason last night at Techcrunch party, and it turns out Amidzad had an option to invest, but didn’t exercise it — something we just confirmed with Amidzad’s Pejman Nozad. Mistake is ours, based on a misunderstanding of a conversation we had with Nozad a few months ago). And they’d raised $3 million from SVIC, which was supposedly enough until middle of this year. So perhaps they didn’t run out of money. We didn’t get much info from the former press relations person, but sometimes the right decision is to make the tough decision to close shop early and go home. In fact, that is the beauty of these times. Starting another company is cheap.

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  • Permalink for this entry is 404ed from here...
  • It is _165_ University Ave, not 365.
  • Thx! Have corrected.
  • Its a great sign that startup costs are being driven to the floor. As a later stage VC I am very excited about the trend. I love talking to entrepreneurs who have bootstrapped for so many years ignoring expensive first rounds.
  • Maybe it was the name. Where I come from, dipsie means stupid. I couldn't live with a company with a name like that - it would kill me.
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