A report in the Times asks pointed questions regarding a crowdfunding campaign by Recruitive Software that may have failed to disclose material information regarding the firm while the securities offering was ongoing. The Times states: “A collapsed software developer failed to disclose that it had… Read More
In a press release posted this week, Dooga Ltd., doing business as Cubits, announced it was seeking bankruptcy protection as the firm entered administration. The company said more information was available on their website which simply generated a 500 error. According to the company, Dooga… Read More
A large cryptocurrency mining company based in Washington State filed for bankruptcy Monday, Wenatchee World (WW) reports. The company is reportedly also facing eviction in Douglas County, and, “The Port of Douglas County also started the eviction process…” According to WW: “The company filed for Chapter 11 protection… Read More
French peer to peer lender Unilend has gone into receivership. The P2P lender announced the news to all of its customers in a recent email. Founded in 2013 by Nicolas Lesur and François Prioux, Unilend pioneered P2P lending in France. It started operating, before crowdfunding… Read More
The Financement Participatif France (FPF), the French Crowdfunding Association, has published an interesting blog post this week. According to the FPF, there are rumors which have been published about a distressed online lending platform. The FPF does not mention any platform names. Today, there are over 60… Read More
Mt. Gox, the infamous cryptocurrency exchange (really a Bitcoin exchange) that went bankrupt in 2014 due to mismanagement and theft, is getting closer to settling at least some of the claims that stand against it. Today, the bankruptcy trustee published a document indicating BTC 24,658.00762 and BCH … Read More
UK online lender Wonga has entered into the process of administration. According to a note provided by the Financial Conduct Authority, Wonga and its affiliates have decided to pursue bankruptcy proceedings and have enlisted the assistance of Grant Thornton whois in the process of being appointed… Read More
Following the news that Toys “R” Us and its sister company Babies “R” Us was officially closing their doors, CEO of MGA Entertainment, Isaac Larian, has spearheaded a crowdfunding campaign on GoFundMe to raise $1 billion to help save the toy retailing giant. The funds… Read More
Another credit card replacement company has died. Plastc, a company that raised more than $5 million in 2014 on a presales campaign, posted a backers update stating the company has exhausted all of its options to raise funding it needs to continue. Plastc said it… Read More
While real estate crowdfunding holds much promise, risk remains. France, home of multiple real estate crowdfunding platforms, has just experienced its first big loss. According to a report in Capital, real estate developer Terlat has used two crowdfunding platforms to finance projects. Terlat has leveraged… Read More
In response to Rebus being called the “biggest UK crowdfunding failure to date,” Crowdcube addressed the company’s failure on Friday. Back in February, Rebus, a company that raised over£816,790 on Crowdcube in 2015, announced that it was filing for bankruptcy. According to data provided by Crowdcube, the company… Read More
Rebus, a company that raised over £816,790 on Crowdcube in 2015, has gone into administration making it one of the largest equity crowdfunding failures in the UK to date. According to data provided by Crowdcube, the company sold a 6.63% stake in the firm to 109… Read More
TrustBuddy, a publicly traded peer to peer lending platform, filed for bankruptcy in October of 2015. This event occurred soon after it was revealed that management had uncovered “suspected misconduct” regarding the operations of the firm. Once the announcement of financial irregularities hit, it was… Read More
SyndicateRoom, one of the leading equity crowdfunding platforms in the UK, has revealed it has experienced its first company failure. Soshi Games, which raised £285,000 in January 2014, recently entered into the liquidation process as the company has filed for bankruptcy. Investing in early stage companies… Read More
Nearly two months after its failed attempt to raise $100,000 on Indiegogo, German encrypted email startup, Lavaboom, announced that it is shutting down and has filed for bankruptcy. According to TechCrunch, CEO and co-founder Felix Müller-Irion admitted that Lavaboom intends to continue running its services until next… Read More
Last summer, Belgium-based GRIN Gamestudio took to Kickstarter to raise funds for its video game, Woolfe- The Red Hood Diaries. Woolfe- The Red Hood Diaries is described as a twisted fable in a rich, fantasy setting of smoke-spewing factories and evil forests. It is considered an action-platforming fairy… Read More
Last year, We shared some details about the Kickstarter- crowdfunding success SOAP Rablet, the all-in-on home automation router. The device was described as 2 GB/S WiFi 802.11AC, BLE, Zigbee, Zwave, Insteon, RFID/NFC, Home Media Server, Your Own Cloud and Domain. Kind of a swiss army knife of… Read More
Highlighting the risk of investing in startups, goodz GmbH, a Berlin based company that did an equity crowdfunding round this past Spring, has filed for bankruptcy. goodz was an “e-boutique”, launched in February 2014, that featured cutting edge products in a curated e-commerce platform that… Read More
Central Falls, Rhode Island Director of Economic Development Shares Insights For Other Cities Looking To Crowdfund Public Projects In the wake of the financial crisis, budgets at all levels of government have tightened. Words like “sequester” are now a part of our common, everyday lexicon…. Read More
Central Falls, Rhode Island is “the smallest city in the smallest state” in the United States, but it is a densely populated city; it’s comprised of nearly 20,000 residents in an area of about one square mile. Central Falls fell on hard times in the… Read More
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