October 3, 2010

Why Wesabe Lost To Mint

In 2007, two startups launched to create a better "Personal Finance" solution to be delivered over the web.

They were Wesabe, the first to launch, and Mint, which eventually was acquired by Intuit for $170,000,000. Wesabe went belly up.

Why? For some great reading, check out this blog post by the founder of Wesabe, and the CEO who was there right through the end.

It is interesting to note that the reason why Wesabe lost is the same reason why TeleMagic was successful...

For more excellent reading on the subject, written by hacker-types, click here.