Update: XMarks, the popular web bookmark syncing service, is going out of business. The SAN Francisco-based company made a low-key announcement on its official blog today. CEO James Joaquin later confirmed the news on Twitter. The company was founded four years ago by Mitch Kapor, with funding from Red Dot Investments.
In 2006, XMarks began offering a Firefox add-on that allows users to sync browser bookmarks across multiple computers over the Internet. Initially called Foxmarks, the service has since released plugins for different browsers. The company also tried a variety of business models, including new search and content discovery products, but ultimately failed.
"We didn't find a sustainable way for XMarks to make money. The ads you see on XMarks.com represent a small fraction of our operating costs; "We tried to build new search and content discovery products to get out of the money jam, but we couldn't find enough consumers and advertisers to pay for those products."
I've heard through the grapevine that the company is inclined to sell itself to Google. Clearly this is not the way to go. The company has 5 million active plug-in users. The current XMarks sync service will remain in place until the end of 2010 (@xdash: January 10th of next year to be exact). Bookmark syncing is standard for most new browsers. (via)
James Joaquin on Twitter:
This article link address: [lost news] XMarks is going out of business
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