4 ms·
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/2012/0
by ahc 14y ago
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/ http://techcrunch.com/2012/06/05/loosecubes-series-a/
- johnabowen 14y agoI 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 14y agoYeah, 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 14y agoI'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.
- looseaway 14y agoFrom 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-investments/ 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 14y agoInteresting read!