When Ryan and I first started Theorem, we had set out to create a marketplace for small/medium sized fashion brands, to help them compete with their big ecommerce competitors.Our best chance for execution of this was to create a Name Your Own Price (trademark Priceline) marketplace for indie designers- and Theorem as you know it was born.Regardless of the impressive amounts of cease and desists for a 1 year old company, this was not cause for closing up shop. In reality, as we grew so did the writing on the wall: the timing was just not right for Theorem.While this reality is a sad one, we cannot help but be thankful for such an amazing experience. The growth we saw the day we started Y Combinator all the way through the holidays was exciting to say the least. We were able to achieve 10% revenue growth week over week for 5 months and had thousands of customers. Theorem was nearing almost 100 brand relationships before our growth plateaued.We have built tons of relationships with indie brands/designers who are truly amazing people. While we certainly did not change the world with Theorem, we were able to generate a significant amount of revenue for a bunch of brands.Obviously, shutting down Theorem was a very hard decision, but what has made it easier is the prospect of our new venture. Our new product is partially inspired by our payment management software for Theorem. We call it "Paid" and it is a invoicing for developers. (Curious? Check out at www.paidapi.com)Of course, we would like to thank our customers, brands, designers, investors, friends and family who enabled us to get this far. We never ever could have done it without you!All the best,- Ryan & Adam
