Sam Sethi steps away from Blognation
In a post on Blognation blog, Sam Sethi has announced that he is to step down from Blognation and that the company will be put up for auction. Quite what value could be put on what is an easily replicated business remains to be seen, but for the time being at least it looks like the end of the road for the company which launched in July.
Sethi blames himself for the failure, citing his problems in finding a venture backer.
Here are some extracts …
For the last 6 months Arrington has threatened to publish, private and confidential emails that were sent to him, knowing it would create fear uncertainty and doubt (FUD) around blognation within the angel/VC community, whether the content was factual or not! The merest whif of litigation whether true or not caused our the potential investors to run for the hills back in July. [Editor: the note is reference to a long running public dialogue between Sethi and Michael Arrington at Techcrunch.com].
