Undeniably the product failed commercially. By the time we decided to sell the company, the product was doing ~20M+ of revenue but on a low growth rate, after having gone through ~140M of capital with (not unreasonable) investor expectations of unicorn-like returns.
That said, I absolutely loved Groove the product and Groove the team. It was a dapp with a wonderfully-usable interface, built on a pure P2P blockchain-like infrastructure that achieved distributed consensus for generalized transactions.
It had an extremely loyal following in the NGO and GOV space. They "got it" as to the unique benefits of a secure end-to-end encrypted system for small team collaboration.
But the enterprise and consumers chose centralization as the winning architecture, and the rest is history.
That said, I absolutely loved Groove the product and Groove the team. It was a dapp with a wonderfully-usable interface, built on a pure P2P blockchain-like infrastructure that achieved distributed consensus for generalized transactions.
It had an extremely loyal following in the NGO and GOV space. They "got it" as to the unique benefits of a secure end-to-end encrypted system for small team collaboration.
But the enterprise and consumers chose centralization as the winning architecture, and the rest is history.