Qubulus Goes into Bankruptcy

Qubulus, a promising Swedish startup that I had covered on February, 20, 2012 (read here), has been put into bankruptcy.

Based in Malmö, the company provided a positioning platform for smartphones where GPS does not work.

In his blog, Ants Patrik Maran, the founder and previous CEO, who exited in January 2012, toughly blamed investors for the failure. “Well it’s not a mystery. The first problem we hit was investor greed“, he said in his post in which he told the entire story (read here).




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