Funeral Industry News Folds After 30 Days?

August 27, 2009 Folds After 30 Days?

image It is official, there is no more EternalSpace. If you are wondering who EternalSpace is, they are the start-up company who blew through millions of dollars to launch a online memorial/virtual graveside site that was open for business for 30 days before investors pulled the plug. I received a call from the company’s Vice President last week explaining the situation.

I will post in detail their situation in an upcoming blog post. But the short of it is that, even with fair warning, the investors and leaders of the company couldn’t grasp the fact that the funeral industry is much slower to accept new product and introduce that product into the arrangement room or to client families than other industries. So, like anyone who expects outragous returns on millions of dollars they invest, the investors freaked out and cut off funding when the product didn’t spread like wild fire through the industry right away. I mean the thousands of dollars they spent on ads in the publications just came out last week.

Thats the short version, but I think you grasp the problem and the end result.

I am sad that this is the way things ended. They had such an amazing product and idea. I was on there band wagon and was a total believe that they had a product that would help change the face of our industry if only they had given it time.