Startup Talk: When A Hot Startup Goes Cold

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SHHHHHHHHHH, FORMER HOT STARTUP SECRET INC. GOES SILENT
The former hot startup that raised and went through a lot of venture capital cash to create an Android app that allowed people to share anonymous messages within their circle of friends, friends of friends, and publicly, has pulled the plug on – well, being a hot startup.

And the company’s CEO and co-founder David Byttow chose to share the news that his startup had gone up in flames on Medium, another hot startup that has raised a lot of cash so followers can post, write, and publish their latest thoughts from their iPhone and iPad. Here’s what he had to say:

“After a lot of thought and consultation with our board, I’ve decided to shut down Secret,” Byttow blogged. “This has been the hardest decision of my life and one that saddens me deeply. Unfortunately, Secret does not represent the vision I had when starting the company, so I believe it’s the right decision for myself, our investors and our team.”

Byttow also wrote some “inside baseball” details about obvious mishaps and misadventures that he had with his investors, who to date had poured more than $35 million into Secret Inc. On his Twitter page, Byttow left an even more cryptic message concerning his reasons for shutting Secret down.

“My father once told me that the art of attending a party is knowing when to leave,” the Secret CEO tweeted. “That’s certainly resonated with me the past few days.”

For those interested in maybe hiring some of Secret’s former employees, Byttow was kind of enough to leave his personal email at [email protected].

‘SHARK TANK-LIKE’ INITIATIVE FOR HEALTHCARE STARTUPS ANNOUNCED
The National Business Group on Health (NBGH), a non-profit association of more than 400 large U.S. employers, announced on Tuesday what it called a ‘Shark Tank-like’ initiative designed to help accelerate the adoption of effective health care technologies and solutions by large employers.

“Even with health care reform fully underway, there is a need for innovative and disruptive solutions to transform the delivery system and improve the health of employees,” said Brian Marcotte, President and CEO of the National Business Group on Health. Read more here.

GAMERS CAN GO BACK IN TIME AT SHERWOOD RETRO ARCADE
“Pac-Man,” “Donkey Kong,” “Frogger” – if you miss taking a stack of quarters to the arcade to play those games, you might want to check out Z82 Retrocade in Sherwood. You won’t even need the quarters. Owner Daniel Solis offers 70 of those old-school games, with more in a warehouse waiting to be restored. Visitors pay a $7.50 entrance fee plus tax to get in the door, and then it’s all-you-can-play. Read more on this fun story at this link.

ACXIOM CHURNING OUT DATA EXECS AND STARTUP DISCIPLES
Much like Silicon Valley tech giants Microsoft, Facebook and Google but on a smaller scale, Acxiom Corp. is garnering a reputation in Central Arkansas and beyond as a great place for startup and tech companies seeking access to both human and venture capital. Last week, former Acxiom Chief Revenue Officer Nada Stirratt, who announced she was leaving the company earlier this year, landed as CEO of Wall Street startup Verve Mobile, which calls itself a “pioneering leader in connecting mobile advertising with in-store sales.” Read more here.