I’m profoundly disappointed to announce that Wantful has suspended operations.
We accomplished a great many things in our 18 months in market: an enormously well-received gift offering; widely-lauded experiences for web, tablet, print, and in-store; a network of 600 vendors creating the most exceptional products around, with a robust and streamlined logistics architecture to support them; an assortment and an approach to content that inspired and engaged; and the brilliant and tireless team responsible for it all.
What we did not accomplish yet—both by circumstance and execution—is the kind of highly accelerated growth required to secure later-stage venture capital, despite the enduring enthusiasm around what we’ve built.
The coming holiday season was shaping up to be pivotal for us, but the loss last week of a planned follow-on investment leaves us little time to secure an alternate source of capital, or to pursue the other opportunities on the table.
Our top priority right now is exploring all our options in an orderly fashion—and in taking care of our customers and the team—but if I can be of assistance please reach out to me personally.
Whatever the outcome, we’re deeply grateful for the support and encouragement we’ve received from our customers, friends, investors, and partners through these past two years, and honored to have had the opportunity.
“I think the popular perception that we’re a lot like the Victorians is in large part correct. One way is that we’re all constantly in a state of ongoing technoshock, without really being aware of it—it’s just become where we live. The Victorians were the first people to experience that, and I think it made them crazy in new ways. We’re still riding that wave of craziness. We’ve gotten so used to emergent technologies that we get anxious if we haven’t had one in a while.”—William Gibson Interview – Boing Boing (via taylordavidson)
“Design is a profession and a craft with standards and practices. It’s not a mystical undertaking, and designers are not magical beings.”—From the brilliant and obstreperous Mike Monteiro in his post on Giving Better Design Feedback.