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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.

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Interesting read!

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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?

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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.

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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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