Color.com and the hype

Would you pay $350,000 for a domain name for the website of a company that you're going to start, which is not completely ready yet? Well that is exactly what a new startup Color has done; well, considering a funding of $41 million doing that doesn't seem completely crazy.


CrunchBase says "Color is a social app for photos. You take photos and then the photos appear on the fly with other photos in your vicinity. You get to see the photos your friends are taking as well as other people within 100 feet of your photo.

The app will group photos based on who your friends are so you are more likely to see photos that you are interested in. The service is available on Android or iPhone."

In a report by TechCrunch, the CEO of color, Bill Nguyen has hand written a note which you may find if you happen to pass by a street in Palo Alto. The note reads:

“What is Color? We are an open social network for your iPhone and Android.

This is our home that we’ll be opening to our community. You can come in during the day and participate in our product vision. We’ll take your ideas and build them into our efforts. Whether you are a high school student, Stanford Phd candidate, or just an interested Palo Alto neighbor we can’t wait to meet you.

Regards,
Bill, CEO, Color"

TechCrunch confirmed that this isn't a marketing strategy, but Color actually wants people to come up with innovative ideas to make the product better.

You can follow Color on twitter here

If you have used Color, then please do share your experience by commenting below.