Is there some useful lesson here? I don't think iterate quickly counts. I'm sorry that thing didn't work out for them, and without some insightful analysis this article isn't interesting or newsworthy.
I’m with you. Every non-trivial failure looks like a Rorschach Blot. You see in it confirmation of whatever biased theories you already have about why companies fail.
I think this is a special case of a big fish in a really small pond (Finland) trying to make it out into the ocean. Having said that, it underlines how adding more dumb money doesn't make you any smarter and that just makes for an ever bigger non-trivial failure in Fruugo's environment (obviously that's my biased theory confirmed).
