

Naked stripped bare - startup runs out of cash, enters liquidation - madmotive
http://uk.techcrunch.com/2008/05/28/naked-stripped-bare-startup-runs-out-of-cash-enters-liquidation/

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madmotive
Are there any stories of Silicon Valley start-ups getting themselves into a
similar state to this with a product at a similar stage?

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myoung8
didn't look like they were very scrappy from those pictures

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madmotive
I'm getting the feeling they had too much cash too early and didn't have a
good balance of hacker founders. They had two (excellent) UK web agencies
working for them that wouldn't have come cheap.

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riklomas
Plus they were working in Clerkenwell, London (around the corner from my work
offices) and rent around here isn't cheap. Did they really need 12 employees
to launch?

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bluelu
I think the story is a little strange with the divorce forcing a freeze on the
invested money. It sound more like the investor didn't want to pay, as there
are 10 other similar products/sites and their application cost much but didn't
deliver much.

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alaskamiller
Sure wish I have enough money to spring for all those Cinema Displays and
fancy web agencies to contract work out to.

