With Facebook At Its Core, Color Will Relaunch As Champion Of The Video Status Update

Color is almost ready for round two. The company ? which famously raised $41 million and launched last spring only to watch its initial product bomb (which in turn spurred plenty of Schadenfreude) ? has spent the last eight months trying to figure out what went wrong, and where it's headed next. And now it's back with a product that has a mission statement as simple as its original vision was complex: it wants to reinvent the status update, in the form of 30 second long, muted video clips. Actually, Color says it isn't really thinking of these updates as video at all, but rather as "visual" status updates that fall somewhere between videos and photos. The last time we heard from Color was?back in September, when it announced that it was going all-in on Facebook's platform (the original version of the product tried to build a new, elastic social graph). The app they previewed in September combined aspects of live video-streaming service Qik with Facebook's Photos product. And over the last few months Color has been running a private beta program at Texas A&M, where they've been monitoring the various use cases students come up with. They've tweaked the product significantly as a result of that testing, and they'll be shipping the new Color to users on both iPhone and Android in the next few weeks.

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