Why Wesabe Lost to Mint

Posted on October 3, 2010

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Came across this post on Marc Hedlund’s blog – “Why Wesabe Lost to Mint.” I’ve never heard of until reading his post this week.  It’s a look at why his company – Wesabe – failed to beat out Mint.com for market supremacy.  Wesabe shut down earlier this summer, while Mint.com was acquired for $170 mln in September 2009.  For the entrepreneurs, product managers, and anyone trying to beat the competition, it’s a must read.

My favorite section, besides the gory details on why Wesabe failed, comes at the end of the post.  Hedlund writes:

I am, of course, enormously sad that Wesabe lost and the company closed. I don’t agree with those who say you should learn from your successes and mostly ignore your failures; nor do I agree with those who obsess over failures for years after (as I have done in the past). I’m hoping that by writing this all out I can offload it from my head and hopefully help inform other people who try to start companies in the future.

I’m reminded of my own past from a couple years ago – “An Entrepreneur’s Lessons Learned.”  This is one of my most frequently read posts.