1. They've got a buggy 1.0 application with no users.
2. They've got $41 million dollars in VC money.
Either by itself might be understandable, but the combination is worrisome.
For example, it's one thing if some angel investors invest $500K or $2 million in strong team with a half-baked idea. That's enough money to allow some hiring and a few experiments.
Or coming from the other side, I can understand why investors might put $41 million into a promising social network with dedicated users and strong growth.
But $41 million for a company which hasn't demonstrated product-market fit, and is still working the bugs out of their 1.0 release? I'm not sure what Sequoia thinks they see in this deal.
No, that is wrong.
My 1.0 apps don't crash (as per itunesconnect which says "No Crash Reports" for my last 3 iPhone/iPad apps which are all on their 1.0 version).
One of them was recently ranked #1 on Apple's top charts for its category. So this isn't a matter of trivial apps with a low user base.
iTunes Connect relies on people syncing their phone. Which doesn't happen nearly as often as you think. You should use something like PLCrashReporter[1] if you want accurate crash reports.
There should have been quite a few, too, since we were the #1 iPad app for a while so I expect every crash report to mean 10x that many users actually experienced the crash.
i blame phone on-screen keyboards. Give me back my clickety keys!
There's a reason that as of this writing, the android market has color rated at 1.5 stars.
The current app on the android market could be written in 3 hour by someone who's never written an android app before. I just need to get a page to load 1/10 tries and have the app crash out the other 9.
Apparently 1.0 is the new beta