In an email to users, Sarah Prevette blames capital constraints for the move, adding “We’ve simply run out of options”.
Sprouter launched in 2009 as a way for entrepreneurs to connect with each other and get advice from experienced peers and experts. It bought on well-known names like Aaron Patzer, founder of Mint.com and Ben Huh, CEO of the Cheezburger Network as ‘featured experts’, and users could even ask questions to them directly.
While a potentially attractive proposition to many entrepreneurs, it seems Sprouter simply could make its service financially viable. The rise of Quora as a place to directly ask questions to successful entrepreneurs could also have been a factor. Sprouter will close down from 2 August 2011.
Here’s the letter sent to Sprouter members, in full.
Dear Sprouter Community,
We’ll be closing down the main Sprouter website a week from today on August 2nd.
We’re devastated to have to shut down the service but unfortunately, due to capital constraints, we’ve simply run out of options.
We want to thank everyone who has supported us and apologize to our members.
Sprouter has truly been a labor of love and we’re heartbroken not to continue on.
We want to wish you all well with your endeavors; we’ve loved being a part of your journey and we wish you continued success.
Thank you very much for being part of the Sprouter community.
Founder & CEO, Sprouter.com