To the surprise of no one, aside from certain people with money, Blippy has closed its doors. Blippy was an online service that allowed people to share what they were buying with their network of friends.

At first blush, it seemed an obvious extension of Facebook, then Foursquare; a copy-cat service that focused on one particular corner of social sharing: Product and service reviews and activity. People share what they have bought and give their opinions all the time, so why not make it automatic?

Where was the research that actually supported the idea that people would move such commenting from their already established accounts on Facebook et al., or review sites like Angie’s List, Yelp, or Cnet?

This struck me as one idea too far down this road when it was announced. But VC guys ponied up about $12 million to find out anyway. Yikes. I meet great start-ups all the time that struggle to get funding, and Blippy gets $12 mill? Something is not right in VCland…

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