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What a shame... I really loved their service. Also, quite surprising given they raised a pretty big Series A just a few months ago. http://techcrunch.com/2012/06/05/loosecubes-series-a/

From what I understand, this is an example of why tranched VC investments are bad. (See: http://cdixon.org/2009/08/15/the-problem-with-tranched-vc-in...)

It's not an investment until the money is in the bank.


Interesting read!


I agree that it’s surprising. I hope we get a postmortem; I’d like to know why they are closing the doors. Lack of traction (seems like they had some though)? Trouble monetizing?


Yeah, a "why" is definitely lacking. They must have had either a monetization plan or an aggressive growth plan when they raised that money, and 5 months is a short time to prove either.

Could be internal struggles or personal reasons.


I'd like to know why they had 16 employees. I'm probably just overlooking something, but it doesn't seem to me that you'd need more than a handful.


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