More details will follow!
At the time almost every (affordable)website monitor service checked only each 15 minutes. Our idea was to break this market with a smaller interval and a very sharp price: $1 per month per website.
Where did it fail?
Mainly scope creep and priorities. E.g. i18n without having any Dutch customers yet. Also 3 developers with same voting rights does not help.
Listening too much to potential customers and friends before beta release. In fact the i18n thing was because the front-end was in English and then this lead came in who wanted to ship Providence with his 16.000 clients (one cannot resist this. What would you do?) But we didn't have any payment page (of course you can defer this to after the first month customers). But such an opportunity made us implement i18n in a rush.