Color finally waves white flag; plans to shut down, report says
Color, a mightily hyped mobile application that tried for more than a year to gain a loyal fan base, has finally decided to close its doors, according to a report.
The company yesterday sent an e-mail to employees saying that its board and shareholders last week decided to "wind down the company," Venturebeat is reporting, citing a source. That e-mail, which was not published in its entirety, didn't say when the company will officially shut down its operation, but it did ask employees to immediately cancel "any existing commitments."