Nau goes under Nau (above), the year-old outdoor-apparel retailer profiled in our June 2007 issue, shut down in May, after it could not close its fourth round of financing. Ian Yolles, VP of marketing, dismisses conjecture that Nau’s earth-friendly business model was too complicated;
he says more customers than expected chose the company’s “ship to you” option and picked a charity for Nau’s 5%-of-sales
giving program. (Contributions amounted to more than $223,000.) Why the failure?
“A complete absence of liquidity and skittishness about the retail environment,” Yolles says. — Ellen Gibson
Ning collects Create-your-own-social-network company Ning, the subject of May’s cover story, has attracted an additional $60 million in venture capital to go with the $44 million it previously raised. The startup –valued at $500 million before getting the additional funds –now has, as cofounder Marc Andreessen puts it, “plenty of firepower to survive the oncoming nuclear winter.” —Adam L. Penenberg
Moving on Two of the Googlers we featured in our March issue have left. Coverboy Douglas Merrill is indulging his passion for music as president of EMI’s digital-music division. And executive chef Josef Desimone, who asked, “Where do you go from here?” has found the answer: Facebook. — Kate RockwoodFCS