Local search pioneer Judy's Book is folding to investor pressure and closing its doors, according to CEO Andy Sack:
After 3+ years, our management team and board of directors has decided to scale back our operations at Judy's Book and seek a strategic acquiror.
As a CEO, I know this is the right thing to do for our investors. But as an entrepreneur it's disappointing to stop chasing an idea just when it's beginning to take root in the popular consciousness.
Judy's Book launched in 2005 as a local reviews site, and transitioned in the summer of 2006 to a hub for local shopping deals and coupons.
Although full-time employees will be let go, Sack told ClickZ News that he has gotten at least six inquiries from potential buyers, so the site may not be quite dead yet. It won't be easy for the acquirer, he adds. "There's no question that doing something local on the Internet is really friggin hard," he said.
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