Ringside Networks Closes: Lessons to be Learned

Ringside Networks, a startup backed by venture capital from Matrix Partners, has closed up shop, as announced in this blog post. The company, focused on open source social networking, had been seeking more VC funding earlier  this year when it suddenly got interest from a large Internet company in acquiring it. The acquisition fell through as the economy worsened, though, leaving Ringside with no options. Check out the lessons to be learned here--especially in this economy--at GigaOm.