Amp’d Mobile Going Down
Comments(0) Well, kind of.
Amp’d mobile, an urban hipster oriented MVNO, has filed for chapter 11 bankruptcy. The company apparently owes more than $100 million dollars to a variety of sources, including Verizon who’s network and infrastructure Amp’d mobile utilizes. Amp’d has also said that while they owe more than $100 million dollars its assets are less than that amount. It’s amazing, this company has had around $360 million dollars put into it over the passed two years and now it’s entering into bankruptcy.
The company is in bankruptcy, not going out of business, so for now the service and its feature continue until the point at which Amp’d can set its problems straight or goes completely out of business.
Interestingly just last fall another MVNO, ESPN Mobile from Disney, abruptly went out of business after losing over $100 million dollars and attracting less than half of the projected users.
In case you don’t know anything about Amp’d mobile, the MVNO offers mid to high end phones that have access to tons of mobile content and markets itself to young and urban hipsters.
