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Is Moxi In Trouble?
from the another-one-bites-the-dust dept
A few weeks ago, when Steve Perlman was pushed out as CEO of Moxi Digital, they spun it in a way that said this was completely according to plan. The press seemed to buy it, because I don’t remember seeing any articles that were really surprised by the move. However, Business Week is now running a story that looks deeper at all the problems Moxi is facing. Some say that the company is running out of money and could be bankrupt in a few months. There are a bunch of other questionable points as well. Moxi currently is leasing a building in Palo Alto which is completely empty, but which they’re paying 3 times the market rate for – and Perlman partially owns the building. They’re also having trouble finding customers. Despite lots of hype about their relationship with EchoStar, folks at EchoStar say they don’t actually have a contract to be a customer – just to run some trials here and there. Many people seem to think that Moxi will go out of business soon or be acquired for not very much money.
Comments on “Is Moxi In Trouble?”
Imagine that?
Big egos + unfettered spending + expensive product = no sales and no prospects…oh, except for EchoStar. Even their main investor, AOL, won’t touch it with a 10 foot pole. Very sad …