Imagine you went all out and made a splash and threw a big party and no one came. That is what happened to Color, a photo sharing app. It threw a $41 million party and nobody came.

Color, spent $350,000 to buy the web address color.com, and an additional $75,000 to buy colour.com, rents a cavernous office in downtown Palo Alto, where 38 employees work in a space with room for 160, amid beanbag chairs, tents for napping and a hand-built half-pipe skateboard ramp.

Color makes a photo sharing app. On the iTunes App Store one of the best reviews for the product says, “It would be pointless even if I managed to understand how it works.”

So who thinks we need an other photo sharing app? Only Color’s investors seem to think so.

Color isn’t the only such company. The Melt which plans to sell grilled-cheese sandwiches and soup to customers who order from their mobile phones. It raised about $15 million from Sequoia Capital, which also invested in Color.

Airbnb, which helps people rent rooms in their homes, is raising venture capital that would value it at a billion dollars. Scoopon, a kind of Groupon for Australians, raised $80 million; Juice in the City, a Groupon for mothers, raised $6 million; and Scvngr, which started a Groupon for gamers, raised $15 million. These could, of course, turn out to be successful businesses.

Meanwhile color has already lost one of its founders Peter Pham, who bolted from the company last week.

Bill Nguyen, the other founder says he fired Peter Pham for screwing up the launch and that its engineers are building a new version of the app that will help it compete with Apple, Google and Facebook.

But he makes no apologies for the amount of money he raised.

He walks around the Color office in bare feet and talks with implicit exclamation points at the end of each phrase, fueled by what he calls an addiction to Coke Zero.

Nguyen, the other founder told the NYTimes.

““If I knew a better way of doing it, I would, but that’s what my cost structure is.”

“There’s no doubt I wish we would have launched and millions of people would have used it, but that didn’t happen. The reality is we’re going to plug away at it and take a much more traditional route to go from A to B.”

“It’s literally going to turn your Facebook network from 500 people to 750 million people,”

Do you need 750 million people in your network?