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Mad Catz delisted from NYSE, files for Chapter 7 bankruptcy
Peripheral maker Mad Catz has thrown in the towel after unsuccessfully scouring for (pick one), bank financing, an equity infusion or sale of assets. Apparently after enjoying a fairly solid business as a peripheral and game controller manufacturer during the Playstation Era, the company tried to expand into publishing with an ill-fated JV with Harmonix to release Rock Band 4. The rest is, as they say, history, but in a more literal and fatalistic sense….
What went wrong at Social Capital?
“Social Capital arrived in Silicon Valley seven years ago with a charismatic co-founder, former Facebook executive Chamath Palihapitiya who also owns a piece of the Golden State Warriors. It raised more than $1 billion and made early bets on companies like Slack.” …and then it all went to shit. This Axios article tracks the implosion. (Sometimes I think by building a real company that actually has a real service and a customer base for 20…
Siri: What is a “Unicorn circle jerk”?
Carta, a unicorn that makes dashboards for managing equity investments in other unicorns is laying off staff and sniffing out a cash injection from existing backers. Bloomberg reports that the company is seekng a $200 million investment from existing investors at a $3 billion valuation, up from 1.8B last year. Somewhat incongruent with the “growth story” picture that normally garners such a sharply higher round, Carta is laying off employees. They just axed 161 people…