Readability Scraps Failed Payment System

Richard Ziade, Readability:

Out of the millions — yes, millions — of domains that flowed through Readability, just over 2,000 registered to claim their money. As a result, most of the money we collected — over 90% — has gone unclaimed. As of today there’s nearly $150,000 in earmarked money sitting in a separate, untouched bank account.

This is a double failure. First, 90 percent of the money went unclaimed. No surprise there. But second: there was hardly any money to distribute in the first place. Look at how little money Marco Arment — who did sign up for the system — earned through Readability. Embarrassing.

★ Thursday, 14 June 2012