[ryanwaggoner]

Actually, I think the basic idea has a lot of potential and could be a fine business. There's several different revenue models and the costs could be pretty low relative to a lot of other types of startups.

The bigger question is why they needed to raise $715k and still needed more.

[tokenadult]

That was really the thrust of my question. Why was that amount of money to start up a good investment?

[trevelyan]

I'm baffled too. The Internet Archive first crawled the site in June 2007, so let's be generous and say they were in business for two years (NYTimes article mentions they closed).

Stunning hubris.