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How to restart a startup

July 7, 2006 /

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If at first you don’t succeed, try a new business model. For today’s Web startups – like photo site Riya – switching gears is easier than ever.

On the surface, everything seemed like it was going according to plan for Riya, a photo-storage startup based in Redwood City, Calif.

Since the site launched in March, users had uploaded 10 million photos, and the company had raised $19 million in venture capital from Leapfrog Ventures, Bay Partners and others.

But Riya founder and CEO Munjal Shah sensed trouble ahead – as well as an opportunity. For every user who uploaded a photo, 20 more were just using the site’s search engine to find photos.

That kind of behavior wasn’t accounted for in the original plan, which hoped to demonstrate its photo-organizing service on Riya’s free website, and then license that technology to other photo websites.

By Michael V. Copeland, Business 2.0 Magazine senior writer

Full Story: http://money.cnn.com/2006/07/06/technology/riyastartup.biz2/index.htm

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