Yeah, it hasn't innovated, but it hasn't needed to; it has been a sufficient product since the start and never needed to change much.
It's really a shame that I can't immediately bring to mind any stories of companies like Meetup that have a simple product that makes a small amount of money, enough to provide a good living to the small cadre of staff it requires to run it. Maybe Craigslist? Wikipedia, except they're always having to beg for money. I think there may be lots more examples in B2B, but it just doesn't seem like the consumer game lends itself to such companies.
It's really a shame that I can't immediately bring to mind any stories of companies like Meetup that have a simple product that makes a small amount of money, enough to provide a good living to the small cadre of staff it requires to run it. Maybe Craigslist? Wikipedia, except they're always having to beg for money. I think there may be lots more examples in B2B, but it just doesn't seem like the consumer game lends itself to such companies.