Lucky Oliver shuts down operation:
“We spent the last year looking for the funds to grow LuckyOliver because, without the addition of significant capital, the return on investment for LuckyOliver and its contributors would not be satisfactory. After reviewing the options, the investment team decided that it was in the best interest of all stakeholders to shut the company down.”
John Harrington comments:
“I am not convinced that there will always be a robust microstock industry. How many redundant servers can continue to run with a significant staff to take orders and collect $1 here, and $4 there? I expect that iStockphoto will, in some shadow of it’s former self, remain. Jupiter will likely collapse under it’s own weight – and the fickle demands of shareholders who no longer see this industry as meeting the growth that they want for their own return on investment. Further, the novelty will wear off for many of the amateurs, and the demands for releases and indemnifications of Corporate America by judgement proof individuals, followed by the lawsuits that inevitably will quash this field, will just poison the well.”
Read all about it at the Photo Business Forum (here).