Today I read on AllThingsD that ad exchange AdBrite is closing down. Back in 2005 AdBrite was one of the ad networks we used at Stardoll, when Stardoll was still called Paperdoll Heaven. AdBrite must have morphed into an ad exchange at a later stage.
AdBrite had taken more than $40 million in venture capital since 2004. Its closing reinforces the point that a big funding round isn't what creates a sustainable company. A sustainable company is created by a good product and enough revenue to cover costs and make a profit.