On The Kevin Ross Show, George Mason University Professor and Author Michael Fauntroy broke the news that Rushmore Drive has run out of gas. The black search engine company that was under the IAC conglomerate never gained traction after it's much touted, splashy launch a lttle more than a year ago. CEO Johnny Taylor offically resigned yesterday according to Black Web 2.0, and Barry Diller, CEO of IAC, confirmed the company's uneventful demise
An IAC (NSDQ: IACI) spokeswoman said the move is "part of our continued effort to rationalize the IAC emerging businesses." The closure affects 17 employees; some people will be staying as the site's business winds down and IAC said it will help others find new positions.
The Washington Post is reporting that as for the potential sale CEO Johnny Taylor mentioned in his resignation letter to staff, apparently the company had exhausted all possibilities. According to April comScore numbers, the site had 439,000 uniques; internal tracking is higher (as is usually the case), around 600,000.
I'm sure more than a few folks are left scratching their heads wondering "What was even the point of Rushmore Drive???
Let's hope the new site The Grio doesn't suffer the same fate. It's all about content, folks!