Hacker Newsnew | comments | ask | jobs | submitlogin
ahc 519 days ago | link | parent

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/

looseaway 519 days ago | link

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.


colinbartlett 519 days ago | link

Interesting read!


johnabowen 519 days ago | link

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?


skreech 519 days ago | link

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.


otakucode 519 days ago | link

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.


Lists | RSS | Bookmarklet | Guidelines | FAQ | DMCA | News News | Feature Requests | Bugs | Y Combinator | Apply | Library