Answers.com files for Chapter 11 Bankruptcy

Answers.com files for Chapter 11 Bankruptcy

Answer Corp, parent company to Answers.com has filed for Chapter 11 bankruptcy in a maneuver to jettison close to half-a-billion in debt. Top creditors are: Yahoo, Inc. with an unsecured claim of $545,209.34. Taboola, Inc. with an unsecured claim of $411,754.97. Facebook with an unsecured claim of $295,000. Don Morrison, former vice president of Foresee, with a severance claim of $217,000. Amazon Web Services, Inc. with an unsecured claim of $200,000. This on the heels…

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#tangodown Lily Robotics

#tangodown Lily Robotics

After collecting pre-orders from approximately 60,000 customers, autonomous camera drone maker Lily Robotics has declared bankruptcy and is shutting down. The company is looking for a buyer for it’s intellectual property and claims it will refund all pre-orders. Lily Robotics raised $15M in funding and took in over $38M in pre-order cash.

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‘Sup’ is down.

‘Sup’ is down.

The ‘Sup’ app, whose “boil the ocean” mission was to help people figure out which of their friends are nearby, and possibly available to hang with, will be shutting down. Despite being touted as “a really cool app” by the likes of Richard Branson and Steve Wozniak, it’s come up short: “We saw growth but we didn’t see the hockey stick growth that we needed to see to actually make it a viable billion dollar business and…

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Walgreens to pull plug on Drugstore.com, Beauty.com

Walgreens to pull plug on Drugstore.com, Beauty.com

In a cost cutting initiative, Walgreens will shut down drugstore.com and beauty.com by the end of September, proving once again that when placing your faith in “category killing” domains, the only thing you may kill is your own business. Walgreens acquired their fleet of ecommerce sites in 2011 for $429 million. They will incur a charge of $115 million pre-tax as part of the shutdown. Drugstore.com launched in 1999 (of course!) and IPO-ed at $65/share…

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DAO ether trading platform DOA after cyber-heist

DAO ether trading platform DOA after cyber-heist

This one is a heartbreaker, nobody likes to see malevolent actors succeeding in killing an entire company but that’s what’s happened with the ether crypto-currency trading platform DOA. Thieves have reportedly stolen $50 million in an “ongoing cyber-heist” from the platform, forcing it to shut down.

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Peak Hosting drops basket with big golden egg, files for bankruptcy

Peak Hosting drops basket with big golden egg, files for bankruptcy

Oregon data center Peak Hosting has retreated from a “massive growth trajectory” and has laid off three quarters of its workforce (peaked at 200 f/t employees, now down to 50) and filed for bankruptcy after losing it’s biggest customer: mobile gaming company Machine Zone. The lost client was worth a reported $4 million/month in lost revenues.  

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