CHUMBY see slideshow
- 10 ‘Net services that will:
- Succeed
- Trulia | SceneCaster | CafeScribe OverlayTV | Fav.or.it | Hulu
Huddle | Kaltura | ModiFace Cognitive Code
Product: Chumby
What it is: An Internet-enabled alarm clock with a Wi-Fi connection and a 3.5-inch touch screen. It plays podcasts and Internet radio and costs $179.
Failings: There's a long history of technology companies selling products to solve problems that don't exist -- think CueCat -- and Chumby is no different. The product will make money through advertising (on an alarm clock!) and the company says it's selling the hardware at cost. It's an open platform -- developers are free to write widgets and put them on the Chumby Network for users to download. But Chumby doesn't charge widget makers (no revenue there) unless the widgets in question display ads.
Turnaround potential: Savvy management team, and the Chumby clock is kind of cute.
'Net views:
Payne.org: "I don't quite get it. Yet. … As configured, it's sort of like a tiny version of the business waiting room display or Captivate displays in elevators, cycling through 'stuff' to keep me occupied while I wait. But in my home or office, that use isn't helpful."
Management: CEO and founder Steve Tomlin, managing member of Avalon Ventures and former CEO of PersonalLogic and a VP at AOL. Raised $5 million from OATV, Avalon Ventures and Masthead Venture Partners in December 2006. Raised an additional $12.5 million in Series B funding in March 2008.
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