KnockaTV May Be Heading To The DeadPool
Written by on February 13th, 2008 in Ajax News.
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).
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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Source: TechCrunch
Original Article: http://feeds.feedburner.com/~r/Techcrunch/~3/234622944/