The moment of truth has arrived as Ponzi scheme BranchOut completely collapsed according to AppData:
Monthly average users (MAU) BranchOut, April, 22 – May, 22. Source: AppData
BranchOut has shown an amazing ability to defy gravity for a very long time but it has run out of steam. All of a sudden BranchOut finds itself in top spots on the AppData leaderboards of biggest losers:
AppData leaderboards for biggest daily and weekly losers
This certainly looks like game over for BranchOut. The only thing that will keep it from collapsing completely is the shitload of money (nearly $50 million) that it sweet talked out of VC coffers. That will give them some time to try and stop hemorrhaging users. But considering the empty shell which is BranchOut, they better be coming up with some pretty neat tricks very, very soon.
In relation to today’s implosion Marini’s most recent interview (May 12th) shows a serious case of cognitive dissonance:
“We are one of the companies that could, on the back of Facebook, be on track for becoming a public company in the next three to four years,” said Rick Marini, the founder and CEO of BranchOut, a San Francisco job networking service on Facebook. At its recent pace of adding three new users a second, or about 2 million a week, BranchOut will ultimately pass LinkedIn as the Internet’s largest online employment network, Marini said.
“What I like to say is that LinkedIn does a really good job at the executive, $100,000 and up jobs — the Wall Street jobs. BranchOut does a really good job at the nonexecutive, Main Street jobs,” Marini said. BranchOut is likely to double its workforce this year, to about 100 people, before adding “hundreds” of people next year, he said.
This kind of extend and pretend is now finally over. If Marini can’t come up with some real value for Facebook users, the spammy engine that is BranchOut will stop to exist very soon. The Ponzi has run its course.