The Story Behind ebook Creation Tool Moglue, Shut Down.
Moglue had managed to gain attention and acclaim from various tech sources last August, as its services provided people with an easy and simple way to create ebooks and interactive ebook applications. with the simple use of a drag and drop interface. But four month later, Moglue had silently shutdown with out even a releasing a statement.
TawWoo Kim, CEO and co-founder of Moglue had spoken during an interview, that the South Korean-based Moglue had been acquired by two companies. And due to this reason the ebook creation tool and services no longer exist.
Rise and Fall.
The company had been shut down right before Christmas, but the startup had decide to remain quiet about said events, and had continued to silent for a few months while the acquisition was still being drawn out. As of recently, TawWoo had finally decided to speak about Moglue and his experience throughout his run of the startup.
After initially pitching at GMIC in Beijing during 2011, Moglue had gradually continue to grow its business. When August approached last year, Moglue had released its version 2.0 of its service, and that’s when the start up began to receive coverage from various tech blogs around the world. With a strong service now set up, customers could purchase it for $99 per year to access the ebook publishing tools, this should have been a grand moment. Although it seems that TaeWoo thought so differently:
“After we launched our 2.0, we realized that the market was not big enough. I talked to several competitors in various countries such as the US, Spain, and Israel and all of them have a difficult time. So I thought that I`d better to sell the company and work on other project.”
In the same process all startups go through, TaeWoo said that he learned some highly valuable lesson during his time with Moglue, lessons he plans to apply in his next venture.
“The market is really important for a startup. It’s really hard to change market trends. If you’re in the wrong market, you should pivot ASAP.” He admits it’s “really hard to know when you should stop, but a leader should make the call without hesitating.”
He also advised any startup founders in general to have a clear understanding of their goals, and to also ” over-communicate with their co-founders and colleagues”, so that everyone within the group can be on the same page.
TaeWoo went on to say that Moglue’s tech and source codes had been acquired, for an undisclosed amount, by Korea Platform Bookjam and US-based Auryn. It has not been made clear whether the ebook creation service will ever be making an appearance back online under its new form of ownership. The companies that acquired the tools have been keeping silent about it so far.
TawWoo had also given a recent Ted Talk on the subject of raising children as storytellers and the origins behind the startup of Moglue.