UK startups start their cull: Trutap reduced to skeleton

Monday, December 1st, 2008

Mike Butcher is the European Editor for TechCrunch. A former grunge rock drummer, he became a long time journalist, and has since written for UK national newspapers and magazines including The Financial Times, The Guardian, The Times, The Daily Telegraph and The New Statesman. Mike is also a co-founder and shareholder of TechHub, a co-working space/service/community with several locations... → Learn More

Trutap, a leading UK mobile startup which made the TechCrunch 40 list in 2007, is letting go almost 80% of its 30 staff after failing to hit its window for a second round of funding. A skeleton staff will keep the social apps Java application for mobiles available prior to a sale or new investment, only a month after its re-launch. The startup was orphaned after its first investor Tudor Ventures, a hedge fund hit hard by the economis crisis, put in a rumoured $6m but could not come back for a second funding round. And today the UK startup scene was also hit by news that review site Reevoo is putting a fifth of its staff jobs on an “at risk” list.

Tags:

Sponsored Ads

blog comments powered by Disqus

Sponsored Ads

Sponsored Ads

Upcoming Events

E3 2012

Los Angeles, CA

Disrupt SF 2012

San Francisco, CA