Troubled Startup Color Loses Cofounder Peter Pham

Peter Pham , the president and a cofounder of mobile social startup Color , is no longer with the company, we've heard from multiple sources. The company launched publicly less than three months ago. Color has been controversial because it raised so much venture capital - some $41 million - and had such a lousy launch reception. The service creates proximity based social networks based on who's around you, a promising idea . But one that Color has so far failed to execute on. In late April I criticized Color for making misstep after misstep and asked "How many do-overs does a startup get before users give up on it for good?"