Odeo Makes Obvious Move; Sells Assets To Startup

Oct 26th, 2006 | By | Category: Audio Podcasting, Citizen Media, General, Podcast Hosting, Podcasting Services

Odeo LogoEvan Williams has announced that he has created a new startup, Obvious Corp, and purchased the assets of the podcasting community he helped found, Odeo.

Odeo has struggled to meet William’s expectations; though it’s a relatively popular podcasting community, the field is dominated by Apple.

“I screwed up several things, which hindered that quick success,” confesses Williams.

“I believe there is a lot of value in what we’ve built,” adds Williams, “but I did not believe the structure was going to lead to the kind of success we wanted. In the new company, with a new structure, and a new model, I think they are great investments.”

Earlier in the year, Williams discussed Odeo’s Top Five Screw Ups:

  1. Trying to build too much – Odeo set out to be a podcasting company, but had no focus beyond that.
  2. Not building for people like ourselves – Williams doesn’t podcast himself and, as a result, the company created web-based recording tools that were too simplistic.
  3. Not adjusting fast enough – The company thought its strategy would win out over the competition, primarily Apple, in the long term. “It turns out long term is not soon enough for a startup if you’re trying to get a foothold.”
  4. Raising too much money too early – After Williams tied up over a million in angel funding, a term sheet came through from Charles River Ventures at three times the angel round valuation. They took the money.
  5. Not listening to your gut – “When you’ve got a bunch of money and you’ve hired a lot of people and you’re talking to your board and you’re talking to reporters, your gut can get drowned out.”

Williams did not comment on plans for the future of Odeo.

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