You may remember Smallknot from TechStars NY’s 2012 class of startups. The company, started by two former securities lawyers, aimed to help small, local businesses crowdfund small projects.
I was into the idea, calling it a heartwarming take on the crowdfunding craze.
But with projects ranging in size from just $2000 to $10,000, the idea had obvious questions of scalability. I’d heard earlier this year through the rumor mill that Smallknot had shut down, but the company’s site was still running, so I never followed up.
Tonight, at the Northside Innovation Meetup, I found out what actually happened, and it’s slightly more interesting than a “Thanks for all your support, we’re shutting down” blog post. (The likes of which New York tech has seen plenty this week: TechStars NY class of 2011 grad Urtak announced it would shut down on Monday. Urtak’s classmate, Sidetour, sold to Groupon. Another 2011…