[ad_1] CEO Bill Mitchell reportedly sent a letter calling PicoBrew and the recent developments “a noble failure.” The founder team, including Mitchell, along with the company’s customer service operation, was also let go. PicoBrew’s last consumer device, the Pico C, was a success on Kickstarter, gaining nearly $2 million in backing. However, it required users […]
Category: bankruptcy
Satellite internet startup OneWeb declares bankruptcy to look for a buyer
[ad_1] The company also alluded to job cuts with references to “remaining employees,” but didn’t say how many people were losing jobs. This isn’t the end for OneWeb; Chapter 11 is usually used to regroup and get a second chance at life. However, the company clearly in a much more fragile position than it was […]
Faraday Future founder files for Chapter 11 bankruptcy
[ad_1] In the proposed plan, Yueting will use his ownership stake in the long-troubled, cash-strapped EV startup Faraday Future to create a creditor trust and repay his debts. That’s not a total surprise. Last month, Yueting stepped down as CEO in order to create this trust. According to Faraday Future, the restructuring will not affect […]
MegaBots calls it quits, puts battle robots on eBay
[ad_1] To start, merely shipping it to your part of the globe is expensive. It could cost $4,000 to ship it to the West coast of the US, $17,000 to the East and as much as $50,000 abroad. You’ll need about $7,000 to replace the worn-down pads, and a forklift to swap weapons. And remember, […]