After nearly a decade of changing products and chief executives, video embedding slide show app company Slipp of Santa Monica told users via email that it “is going away.”
Founded as a network of online shopping referral sites named ThisNext in 2006, the company had initially taken on nearly $9 million in venture capital from firms including Santa Monica’s Clearstone Venture Partners and Anthem Ventures Partners.
However, by 2010 ThisNext decided that it had gotten too far behind on social media shopping trends and should change directions and chief executives. That year, Matt Edelman took over as chief and declared the company was pursuing a business focused on a build-it-yourself digital magazine platform named Glossi.
“I didn’t believe that the way ThisNext made money and generated traffic was a viable way for a company to grow and expand without a significant war chest of capital,” Edelman said in an interview the LA Business Journal at the time. “I just didn’t want to build something for ThisNext around a concept that I didn’t believe in.”
But, by summer 2013 Edelmen stepped down to make room for a chief executive who investors thought had more digital publishing industry experience. That replacement, Rahul Sonnad, who previously founded an online video player named thePlatform of Seattle, quickly took the company in a new direction. He developed an app in which users can take a series of videos from YouTube and embed each one onto a slide, thereby creating a kind of slide show that can be shared. But that app, named Slipp, never got much traction.