Mobuzz Folds After All

A quick update on the Mobuzz saga (the Spanish online video entertainment startup turned to asking for user donations to keep its head above water): they’re now officially in the deadpool.

From the website:

It is with deep regret that we inform our friends and fans that MobuzzTV has closed officially today. We need to take some time to see how best to reorganise our project. We have been talking with many interested parties but unfortunately we have not been able to financially sustain our operations until the agreements were closed.

The company has made it clear that all donations will be returned, and that the video archive built up over the last 4 years will remain online. In the latest video update (dating back to 10 November, embedded below), Mobuzz CEO Anil de Mello said they managed to raise 33,000 €, which is about 1/4 of what the startup hoped to achieve a week after starting to panhandle for money. At the time, they were still hopeful about being able to continue producing video shows and attracting enough advertises to execute on their financial plan, but that turned out to be idle hope.

It’s always sad to see a company go, but as Jason already wrote when he covered the company’s final attempt to survive, Mobuzz probably ran out of money for a reason.
Mobuzz Lives! from Anil de Mello on Vimeo.