In April we reported that San Francisco based mobile startup Kadoink was heading towards the deadpool. Not because they ran out of money, but because Hercules Technology Growth Capital, one of their backers, had seized the company and was shutting it down.
Kadoink, a text messaging marketing startup based in San Francisco, has been seized by creditor Hercules Technology Growth Capital after failing to maintain the financial requirements of a $2.5 million line of credit. CEO Scott Cahill says that there is still a “substantial amount of cash remaining” that is being returned to Hercules, and that they are looking for a strategic buyer to keep the… → Read More
I feel like today is Virtual World Day. We started off the morning covering the public beta launch of Vivaty, then Second Life and IBM announced that they bridged two virtual worlds, and Google launched its own version of virtual worlds with Lively. If it seems like everybody is starting their own virtual world, it is because they are. A report put out today by Virtual Worlds Management tracks… → Read More