Bandwagon has caught our attention whilst randomly checking out the market of online storage and social music. And it has caused quite a stir since it launched at the end of February 2007. Reactions include (the comments are worth a read):

• One final Bandwagon Post

• Adverse Selection! What does “Unlimited” Mean?

• Bandwagon Followup: When unlimited isn’t quite “Unlimited”

• Xackup jumps off the bandwagon

To summarize, it has undergone ‘tough love’ by critics, and all kudos to Bandwagon for acknowledging their mistakes and are quick to rectify their mistakes.

In the space of a week, it has decided to revise their strategy from online storage to renting their backup application after feedback and conversations with bloggers. For Bandwagon’s response, please view their latest blog entry. This change has also had an immediate response from:

• Xackup Bandwagon has left the building

• Bandwagon Undo and Redo

My review to Bandwagon’s venture (and I am hoping to learn from people’s mistakes) are as follows:

CEO and Co-Founder Terence Pua, a self-claimed serial entrepreneur with much experience (LinkedIn Profile) is at the helmed of Bandwagon. Not that I am comparing Terence with BBC’s Dragons, it appears to me that Terence has missed the basics, such as:

• Know your target market (especially the initial enthusiasts or the early adopters);

• Business Model (i.e. cash flow, profitability, and sustainability);

• What’s the unique selling point of Bandwagon?

• Comparison with likely competitors: e.g. Mozy

Is this the type of company I would like to safeguard and backup my precious data - MUSIC? I will continue to observe Bandwagon from afar and hopefully MuSMo will not fall into the same trap.