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Video: Formspring CEO Ade Olonoh on Turning a Phenomenon Into a Business

Formspring, the anonymous Q&A site, is in many ways the antithesis of leading web trends: it creates massive amounts of unstructured information that’s not indexed, not searchable, and not inherently viral. But the simple web service, which allows users to set up pages where they invite people to ask them questions, has grown tremendously, with almost 15 million registered users and 800 million questions answered to date. In addition to that growth in the last eight months since it was created, Formspring spun off from the company where it was created, raised $2.5 million and moved to San Francisco. Now for the hard part: it must figure out how to sustain its growth and make money.

I met up with Formspring CEO and co-founder Ade Olonoh at his new San Francisco office this week, where the company has doubled its staff to 15 in the last month. Watch the video to hear about Olonoh’s understanding of why Formspring works and his vision for the company. The next big thing he’s looking at is releasing an API so Formspring can become a personal Q&A platform around the web. As for a revenue model? Not coming anytime soon. For at least the next six months the company plans to focus on with handling and encouraging growth and improving the discoverability of its content.

4 Responses to “Video: Formspring CEO Ade Olonoh on Turning a Phenomenon Into a Business”

  1. I’ve known Ade for over 10 years now, and I can vouch for him being a “pretty cool dude.” Glad to see some good press getting out there about formspring!