Madrid-based web tv startup goes bankrupt, asks audience for donations
Mobuzz, one of the more popular online shows to come out of Europe, has run out of money. But instead of bowing out, the site is turning to its users and asking for a €5 donation (or the equivalent in your local currency). The goal? 120,000 Euros by next week, which Mobuzz says should be enough to sustain the site until it can get more funding. If it doesn’t make the cut, the site will be shut down and any donations will be returned.
Strapped For Cash, Web TV Startup Mobuzz Starts Panhandling.
2 comments
What’s your opinion?
Mine is that they should have done a couple of things much better:
- They should have managed their money better
- If they wanted money from their users, the should give them something in exchange, not ask for donations
By the way, it’s impressive that they’ve g0tten near 30,000 euros in one week in donations.
On one hand, Mobuzz is a business, a privately-owned for-profit operation. Donations are for non-profits.
On the other hand, they have provided a lot of content and entertainment to their users free of charge. If their audience wants to give them money, so be it.
It looks like the Mobuzzers weren’t prudent enough with their resources and, when bad luck hit, they had no wiggle room. Now they ask their audience to give them money for the content they initially claimed to deliver for free. More power to them if this saves their asses this time, but there is no guarantee they won’t go bust sometime later, so those donations might well be wasted anyway.
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