Amp’d has released an official statement regarding their Chapteer 11 bankruptcy filing.
“As a result of our rapid growth, our back-end infrastructure was unable to keep up with customer demand. We are taking this step as a necessary and responsible action to sustain and strengthen our momentum in the market place.†Don’t dismiss this as pure spin, despite how laughable it sounds: there is half-a-kernel of truth in this. Amp’d was growing fast, but it tripped up on customer service, retention, collections and subsequently payments….During the reorganization process, we are working with one of Amp’d Mobile’s largest investors to obtain debtor-in-possession financing. Our investor supports our vision, strategic direction and business plan…Amp’d Mobile’s senior management team remains largely intact as we continue to focus on improving and scaling our backend infrastructure.”
Amp’d Mobile has filed for Chapter 11 bankruptcy! That’s right, the MVNO has gone belly up, just weeks after flaunting their 200,000 subscriber-base. Who woulda thought that the PR-challenged MVNO would need to seek the court’s protection as they try to get their house in order? Well, to be honest, we weren’t all that surprised at the news…nor were we all that dissapointed. Could Amp’d Mobile’s financial woes be signalling the end of the MVNO trend that is starting to look more like a fad? We’ll just have to wait and see.
All you Amp’d Mobile fans should keep your fingers crossed for a turn-around…because we sure won’t be.
via: enagadgetmobile