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Posts: 285 | Thanked: 1,900 times | Joined on Feb 2010
#1991
Originally Posted by pichlo View Post
They may not have known the details but believe me, they have known that they were in dire straights for a long time.
It has been like that since from the beginning, I remember them saying it even last year that they have to make great effort to secure more and more funding from investors to keep things rolling as they are not yet profitable and on sustainable ground. What can they do, except to try to push forward with what they have and hope that it's enough to convince investors to pour in more money? This is nothing especially surprising, capital intensive startup without backing of big corporation is creating, as Jolla themselves have described it, an impossible story. However, I find it bit confusing why investors would pull the plug in the moment when first device from licensee is just about to enter the market.