Amp’d Mobile files for banktrupcy
Amp’d Mobile, a Los Angeles based mobile provider, has filed for Chapter 11 bankruptcy protection after falling into debt and not being able to raise more cash to cover it.
This is a spectacular crash because the young company — which offers mobile entertainment targeted to young people — swallowed more than $360 million in venture backing. To raise so much cash was risky — as we’d pointed out back in March, when Amp’d had raised… Continue Reading