Invention start-up company Quirky Inc, backed by a string of venture capital funds, has filed for Chapter 11 relief and put its smart home platform Wink up for sale, court filings showed on Tuesday. Other start-ups have also collapsed this year, such as Homejoy which used the web to offer house cleaning, raising concerns among venture capitalists about investing in companies that cater to consumers rather than businesses. Flextronics International, a Wink partner and also its biggest creditor, has committed to pay at least $15 million for the platform, which also has partnerships with General Electric and Honeywell International.
Read more...
[New post] Smart home platform Wink for sale after Quirky seeks Chapter 11
Join This Site Show Conversion CodeHide Conversion Code Show EmoticonHide Emoticon
Note: only a member of this blog may post a comment.