Almost a year ago, I blogged about making money online with iYomu’s $1 million dollar challenge. Today, I received an email from iYomu founder David Wolf-Rooney who wrote:

As the founder of iYomu and now the official closer I thought I would send you a movie clip that sums up many of the conversations that have taken place in this online community filled with Americans, Canadians, New Zealanders and Australians + 100 other countries.

For almost one year iYomu seemed to make the world a smaller place where 100 000 people came together and found a common space where grown-ups could meet, greet, debate and share interests. Yet it is not only people who rule the world, but money does too. We tried, we thrived and then we died.

As the lights will officially go out in the iYomu community on the 28th of June 2008 I remind you all to take all the material from your vaults and other places such as the email system as this material will soon be deleted.

I send you my best wishes and the wishes from all of those involved in the project.

It happens all the time in any business, but somehow, it’s still a shame when another online company closes. It always makes you wonder: What happened? What did the company do or didn’t do that led to its closure? What can we learn from such situations?

Read more from the source here