Bugged Out

As I expected, Readbug didn’t reach its funding target during its latest campaign, the latest cache of the raise (25th March 2017) has the raise reaching the dizzy heights of just £5,972 of their £80k target.

As mentioned previously, the update we investors received before the campaign began didn’t paint a pretty picture so it came as no surprise that this campaign was well off the mark.

Now that the campaign has closed, Readbug today issued an update to investors – It seems they are suspending their B2C product on 31st March 2017 to put all their efforts into the B2B business, they’ve as good as admitted the B2C product is not viable at this stage, with no forthcoming investment I’m not convinced the B2B product is going to fair any better.

This must be the third or fourth nail in this particular coffin, I think they’re going to need a pretty special crowbar to get them out again.

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