Posted yesterday at EvanBrunell.com (The end of the Most Valuable Network, MVN.com):
It is with regret that I’m writing to announce that I have made the decision to close down MVN.
There are many factors that led to this decision, and thusly I will not attempt to work through all the factors and the various happenings that led to this decision. I will, instead, simply cite that the biggest motivating factor was (what else?) finances.
MVN is backed by family money. In better economic times, our investment on this end was not significant. However, the downturn of the economy has hurt us. Online ad revenue dropped at a time we were pushing to make MVN a bigger and better destination. While we were fortunate to have the resources to exist to date, we’ve arrived at the situation where further investment can no longer be justified.
I don’t know MVN founder Evan Brunell from Adam, but I credit him as an early visionary whose model has been replicated many times over, and was attractive to many quality sites I enjoy.
As Bunch pointed out to me, when larger networks pull attention and advertising dollars with them and others push forth with venture backing, it’s tough to succeed as a family-funded business.
It’s hard to believe that MVN couldn’t leverage its name and reputation to procure some to stay in the game, but that’s a topic Brunell chose not to delve into, so we’ll respect that and leave it at that.
Good luck to Evan. He should be recognized for his contributions to our collective media platform.