Iyomu.com, the fledgling (did someone say unfounded?) social networking site that made some headlines when it announced a $1mil launch competition, is shutting down.

David Wolf-Rooney, founder of the site, showed amazing clarity when he said that;

IYomu got its proposition – social networking for grown-ups – wrong, and did not have the resources to grow its membership numbers

The following then is a memorial to those who invested in a business always doomed to failure (and no I’m not just being negative –  see many businesses that are viable – but this one had no real unique selling proposition). There are some names there who really should have known better – internet bubble anyone? Maybe these high fliers should stick to their knitting rather than investing in something they have no real understanding of.

Share Parcels
Total Number of shares 12,023,795
Number of Shares 8,291,137
Shareholder(s) WOLF-ROONEY, David Damien Michael 56 Crescent Road West Extension, Palm Beach, Waiheke Island
WOLF-ROONEY, Elke 56 Crescent Road West Extension, Palm Beach, Waiheke Island
1584701 – SCO TRUSTEES NO. 1 LIMITED 222 Kitchener Road, Milford, Auckland 1309
Number of Shares 1,060,000
Shareholder(s) BOAG, Michelle 33 Korora Road, Oneroa, Waiheke Island
Number of Shares 460,000
Shareholder(s) DOL, Julia Edith 41 Bracken Avenue, Takapuna, Auckland
DOL, Michael John 41 Bracken Avenue, Takapuna, North Shore City
913272 – SW TRUST SERVICES LIMITED Level 17, A I A House, 5-7 Byron Avenue, Takapuna, Auckland
Number of Shares 166,666
Shareholder(s) BOLER, Kenneth Alfred 97-101 Hobson Street, Auckland
BOLER, Tracey Lydia 97-101 Hobson Street, Auckland
JONES, Warwick Nelson 97-101 Hobson Street, Auckland
Number of Shares 165,000
Shareholder(s) MOSS, John Calle Clipper 14, Pilar De La Horadada, El Mojon, Alicante, Spain
Number of Shares 140,000
Shareholder(s) GABRIELLE CARRICK ADVERTISING SERVICES PTY LIMITED 30b Francis Street, Castle Hill, Nsw 2154, Australia
Number of Shares 122,499
Shareholder(s) 964865 – MILLAW SERVICES LIMITED 218-224 Kitchener Road, Milford, Auckland
Number of Shares 116,666
Shareholder(s) VALINTINE, Elizabeth Francis C/-145 Kitchener Road, Milford, North Shore City
SOPP, Rosemary Martha C/-145 Kitchener Road, Milford, North Shore City
1788998 – APOGEE TRUSTEES LIMITED Hall & Parsons CA Ltd, 145 Kitchener Road, Milford, Auckland
Number of Shares 100,000
Shareholder(s) 1511911 – NETVALUE LIMITED 346 Bruntwood Road, RD1, Cambridge
Number of Shares 81,695
Shareholder(s) ROCKELL, Christopher Glenn 222 Kitchener Road, Milford, Auckland 1309
TODD, Kylie Sonya 222 Kitchener Road, Milford, Auckland 1309
PIERSON, Fiona Margaret 222 Kitchener Road, Milford, Auckland 1309
Number of Shares 80,000
Shareholder(s) SPARROW, Eugene Francis 61 Watling Street, Epsom, Auckland
MORGAN, Gillian Ann 61 Watling Street, Epsom, Auckland
Number of Shares 80,000
Shareholder(s) MCCORMICK, Paul John 97-101 Hobson Street, Auckland
MCCORMICK, Helen Ann 97-101 Hobson Street, Auckland
KLAASSEN, Andrew David 97-101 Hobson Street, Auckland
Number of Shares 73,400
Shareholder(s) LIGGINS, Douglas John 32a Awatea Road, Parnell, Auckland
MELLOR, Bruce Fox 32a Awatea Road, Parnell, Auckland
Number of Shares 73,333
Shareholder(s) BODEWES, Nicolette Giselle 24c Marama Street, Castor Bay, North Shore City
Number of Shares 68,334
Shareholder(s) CURRIE, Denis Scott Stone Road, Rd 1, Bombay, Auckland South
CURRIE, Colleen Margaret Stone Road, Rd 1, Bombay, Auckland South
Number of Shares 45,000
Shareholder(s) CRAUFORD, Nicola Lane 8 Tisdall Street, Karori, Wellington
Number of Shares 45,000
Shareholder(s) HOLIBAR, Olivia Francesca 8 Rata Street, Blackpool, Waiheke Island
TREADWELL, Beatrice Mary 8 Rata Street, Blackpool, Waiheke Island
HARLEN, Mark Adam Holloway 8 Rata Street, Blackpool, Waiheke Island
Number of Shares 38,333
Shareholder(s) TOMPKINS, Simon Lance Faris-Manning Trust 33 Codrington Crescent, Mission Bay, Auckland
TOMPKINS, Bridget Marie Cox-Manning Trust 33 Codrington Crescent, Mission Bay, Auckland
Number of Shares 38,333
Shareholder(s) TOMPKINS, Simon Lance Faris-Bmc Trust 33 Codrington Crescent, Mission Bay, Auckland
TOMPKINS, Bridget Marie Cox-Bmc Trust 33 Codrington Crescent, Mission Bay, Auckland
Number of Shares 36,666
Shareholder(s) SPEEDY, Vimu Level 2, 6 Viaduct Harbour Avenue, Auckland
Number of Shares 35,000
Shareholder(s) WILLIAMS, Graeme 36 Holt Avenue, Torbay, North Shore City
Number of Shares 35,000
Shareholder(s) PLANT, Debra Jean 422b Whangaparaoa Road, Stanmore Bay, Whangaparaoa
Number of Shares 33,334
Shareholder(s) 1967282 – SCHOLMANN INVESTMENTS LIMITED 11 Delmar Court, Howick, Auckland, New Zealand
Number of Shares 31,666
Shareholder(s) HATWELL, Mark Bain 27 Pollock Drive, Chartwell, Hamilton
Number of Shares 30,000
Shareholder(s) MEEKINGS, Joy Sonia 840/3 Whangaparaoa Road, Little Manly, Whangaparaoa
Number of Shares 25,000
Shareholder(s) BAYNE, Scott 15 Ruia Street, Gore
BAYNE, Jane 15 Ruia Street, Gore
Number of Shares 25,000
Shareholder(s) MORGAN, Tony Tyn-Y-Drain, Selattyn, Oswestry, Shropshire, United Kingdom
Number of Shares 25,000
Shareholder(s) BROWNLEE, Rhonda 60 Mid Beveridgewell, Dunfermline, Fife, Scotland Ky12 9es
Number of Shares 25,000
Shareholder(s) LANE, Amanda Jane 312 Seaview Road, Ostend, Waiheke Island
WORRALL, Peter Malcolm 312 Seaview Road, Ostend, Waiheke Island
Number of Shares 25,000
Shareholder(s) 1530777 – SHUNYO LIMITED Acorn Solutions Limited, 42 Apollo Drive, Mairangi Bay, Auckland
Number of Shares 25,000
Shareholder(s) WOLF, Hildegard Schwaebisch -Hall -Str, 51, 28816 Stuhr, Bremen, Germany
Number of Shares 25,000
Shareholder(s) BROOKS, Eleanor Veronica Hillcrest, 44 Addington Road, Wilmslow, Cheshire, Sk9 2bj, United Kingdom
Number of Shares 25,000
Shareholder(s) BROOKS, John David Hillcrest, 44 Addington Road, Wilmslow, Cheshire, Sk9 2bj, United Kingdom
Number of Shares 25,000
Shareholder(s) WOOD, Gary 44 Chapel Street, Mt Pleasant, Mow Cop, Stoke On Trent, St7 4nt, United Kingdom
WOOD, Jackie Wells 44 Chapel Street, Mt Pleasant, Mow Cop, Stoke On Trent, St7 4nt, United Kingdom
Number of Shares 25,000
Shareholder(s) LINDBERG, Phillip Scott 744 Remuera Road, Remuera, Auckland
Number of Shares 25,000
Shareholder(s) ARMSTRONG, James Henry 128b Upland Road, Remuera, Auckland
MILNES, Brian Arthur 128b Upland Road, Remuera, Auckland
Number of Shares 25,000
Shareholder(s) KINNER, Phillip James 132 Ascot Court, Aldershot, Hants, United Kingdom Gu11 1gr
Number of Shares 25,000
Shareholder(s) WILLIAMS, Michael Flat 86, Majestic, Clifton Drive North, St Annes On Sea, Lancashire, United Kingdom Fy8 2ph
Number of Shares 25,000
Shareholder(s) SPENCER, Dale Steven 17 Wapiti Avenue, Epsom, Auckland
Number of Shares 23,334
Shareholder(s) SCHNAUER, Andrew Lawrence 222 Kitchener Road, Milford, Auckland 1309
SCHNAUER, Sally Anne 222 Kitchener Road, Milford, Auckland 1309
LINDBERG, Craig Francis 222 Kitchener Road, Milford, Auckland 1309
Number of Shares 20,000
Shareholder(s) HILL, Andrew Garwood 66 Bayswater Avenue, Bayswater, North Shore City
KNIGHT, Fiona Alice 66 Bayswater Avenue, Bayswater, North Shore City
KNIGHTINGALE, Peter Glenn 66 Bayswater Avenue, Bayswater, North Shore City
Number of Shares 18,000
Shareholder(s) ORR, Graeme Sinclair Nigel 101 Queens Drive, Waiheke Island
MENZIES, Catherine Amanda 101 Queens Drive, Waiheke Island
Number of Shares 17,000
Shareholder(s) GOWER, Peter Barry 10/119 St Stephens Avenue, Parnell, Auckland
Number of Shares 16,700
Shareholder(s) SKILTON, Margaret Fiona 105A Atkin Avenue, Mission Bay, Auckland
Number of Shares 16,666
Shareholder(s) SUTHERLAND, Roger John 97-101 Hobson Street, Auckland
MANN, Garry William 97-101 Hobson Street, Auckland
Number of Shares 16,666
Shareholder(s) HILL, Peter Gerald 75 Margaret Reeve Lane, Te Whau, Waiheke Island
HANDLEY, Catherine Elizabeth 75 Margaret Reeve Lane, Te Whau, Waiheke Island
Number of Shares 15,000
Shareholder(s) BODEWES, Daniel Herman 222 Kitchener Road, Milford, Auckland 1309
Number of Shares 13,333
Shareholder(s) WOOD, Susanne Mary 5/166 Oriental Parade, Oriental Bay, Wellington
FOKERD, John Edward 5/166 Oriental Parade, Oriental Bay, Wellington
WOOD, Terence Colin Robert 5/166 Oriental Parade, Oriental Bay, Wellington
Number of Shares 12,000
Shareholder(s) LAMB, Glenda Ann 1/29a Taumata Road, Sandringham, Auckland
HUNT, Bevan Donald 1/29a Taumata Road, Sandringham, Auckland
Number of Shares 10,000
Shareholder(s) MOODY, Robert John 52 Seaview Road, Remuera, Auckland
MOODY, Susan Spiers 52 Seaview Road, Remuera, Auckland
BENDALL, Donald Brian 52 Seaview Road, Remuera, Auckland
Number of Shares 8,333
Shareholder(s) WILKINS, Kerry Frederick 48 Messines Road, Karori, Wellington
Number of Shares 8,333
Shareholder(s) PETERSEN, Richard David 44 Braithwaite Street, Karori, Wellington
PETERSEN, Deborah Kay 44 Braithwaite Street, Karori, Wellington
LAURENSON, David Arthur 44 Braithwaite Street, Karori, Wellington
Number of Shares 8,333
Shareholder(s) HILL, Peter Gerald 75 Margaret Reeve Lane, Te Whau, Waiheke Island
Number of Shares 8,333
Shareholder(s) HANDLEY, Catherine Elizabeth 75 Margaret Reeve Lane, Te Whau, Waiheke Island
Number of Shares 8,000
Shareholder(s) GOWER, Philippa Mary 10/119 St Stephens Avenue, Parnell, Auckland
Number of Shares 6,700
Shareholder(s) SKILTON, Margaret Fiona 105A Atkin Avenue, Mission Bay, Auckland
HORROCKS, Richard Brownlow 105a Atkin Avenue, Mission Bay, Auckland
Number of Shares 1
Shareholder(s) WOLF-ROONEY, David 56 Crescent Road West Extension, Palm Beach, Waiheke Island
Number of Shares 1
Shareholder(s) WOLF-ROONEY, Elke 56 Crescent Road West Extension, Palm Beach, Waiheke Island
Ben Kepes

Ben Kepes is a technology evangelist, an investor, a commentator and a business adviser. Ben covers the convergence of technology, mobile, ubiquity and agility, all enabled by the Cloud. His areas of interest extend to enterprise software, software integration, financial/accounting software, platforms and infrastructure as well as articulating technology simply for everyday users.

5 Comments
  • The other interesting thing is they haven’t updated the news page on the iYomu site (http://www.iyomu.com/news). In fact, it hasn’t been updated since September last year. Was that the point at which they just stopped caring, or was it then that they realised that they’d caught the wrong flight?
    Hope their users read Stuff…

  • Goodness me. Look at them all. Wish I had half the talent David had for getting investors. OTOH lots of investors can be a problem, particularly if they all have different opinions on the best way forward…

  • It’s a shame…..I hate seeing cool things fold….Memebrs from nz and Aussie could always go to oziwi.com

  • What a knocking machine
    As if it wasn’t bad enough that we all lost our hard earned money..”should have known better” Hmm!!
    Did you even try it ..use it?
    What level are you flying at?

  • Peter

    Sorry – but there are a bunch of people you could have talked to (the majority of whom, unlike most advisors, wouldn’t have charged you for the privilege) who would have told you why investing was a bad idea.

    Easy to say after the event I know, but it’s the truth…

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