We knew it was a bit strange that a company with a healthy, growing user base could go bankrupt. Moconews was able to get their hands on the actual Chapter 11 filing – providing insight into Amp’d Mobile’s financial troubles. It seems that Amp’d Mobile was a bit late in realizing that they had upwards of 80,000 non-paying subscribers. That’s a pretty big portion of the estimated 200,000-strong subscriber base that Amp’d was supposedly servicing.
Add that not-so-little problem with outrageous monthly operating costs, and we start get the picture. It’s starting to look like Amp’d Mobile went down in a blaze of glory – spending like crazy under the pretense of booming success until the very end!
via: moconews