Even after growth stalled, they had a ton of cash to keep their operations afloat. But they burned up a lot of it in manufacturing the Playbook tablet, which was a big flop.
Interestingly, Blackberry Messenger had 75 million subscribers in 2011, and had a similar cachet of exclusivity as early FB, when signups were limited to those with .edu addresses. CEO Jim Balsillie pushed for BBM to become a cross-platform software product, but his co-CEO wanted to focus on devices and security, and not build software for other platforms. We all know how that ended.