KnockaTV May Be Heading To The DeadPool

Wednesday, February 13th, 2008

J. Michael Arrington (born March 13, 1970 in Huntington Beach, California) is a serial entrepreneur and the founder of TechCrunch, a blog covering startups and technology news. Arrington attended Claremont McKenna College (BA Economics, 1992) and Stanford Law School (JD, 1995), and practiced as a corporate and securities lawyer at two law firms: O’Melveny & Myers and Wilson Sonsini Goodrich... → Learn More

Israeli startup KnockaTV looks to be in serious trouble. If this article in the Globes is correct, 21 employees went without salaries in January and the company is ₪1.2 million in debt (about $300,000).

We first wrote about KnockaTV, which was founded by the same team who founded Mirabilis (ICQ), in August 2007 (Mirabilis was sold to AOL in 1998 for $407 million). They went into private beta in December 2007. The company raised at least $1 million in seed funding (the Globes article says they’ve raised $3.6 million in total). Update: the company is telling us they raised a total of $3.5 million, half from Evergreen, half from the rest. CrunchBase updated.

The founders have a lot of personal capital at their disposal, and it seems unlikely they’d let employees go unpaid. Still, the unpaid employees have supposedly petitioned the Tel Aviv District Court to appoint a provisional liquidator to the company.

I’ve emailed the company for a comment. For now, KnockaTV goes into the TechCrunch DeadPool.

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