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we havenít closed the financing. We knew when we started the company that to compete with the likes of Microsoft, Google and Yahoo,it was going to take at least $100 million
I'm no stranger to ramping up big projects that spend millions in engineering but $50M on what?
You take a small team, build a prototype, maybe start in a profitable niche market and expand.
Going after the likes of Microsoft, Google and Yahoo in the initial stages is completely suicidal IMO and I'm wondering what kind of VC bought into this fairytale of going after major SEs?
The biggest problem with SearchMe was the sheer memory footprint it required which probably chased off many would be surfers with older PCs with less memory.
Oh well, it was a nice idea but poorly executed.
Search Me's idea will work about 10 years from now when everyone has a fast enough computer for it.
Unlikely - it will always take longer to look at screenshot of webpage to decide if it is the right search match, this means spending more time on search site rather than quickly finding the right stuff and going there.
This may work for obvious searches that produce obvious result (ie: google), but try that with long tail and it won't work well.
Spending a lot of money on servers and buying in traffic was not exactly long term idea.
Then again, if you don't do that with all hype then you won't probably raise $50 mln. This ought to join the same category as boo.com (check Wikipedia)