UK startups start their cull: Trutap reduced to skeleton

Monday, December 1st, 2008

Mike Butcher is a journalist, broadcaster and commentator. He is firstly editor of TechCrunch Europe, but has also co-founded TechHub.com and Coadec.com in Europe as ventures to support the tech startup eco-system. A long time journalist, Mike has written for UK national newspapers and magazines including The Financial Times, The Guardian, The Times, The Daily Telegraph and The New Statesman.... → 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.

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