Mobuzz Goes Bust

Mobuzz is a Spanish start-up that is in the entertainment business and works in the form of an online video. When it realised its ship was sinking, it started bailing out water by way of requesting charitable contributions from people who used its service. In other words, Mobuzz had to request its users to provide it with donations. The online world seems to have claimed another victim. And now it is safe to assume that Mobuzz is officially extinct.

The following is an excerpt from an announcement on its website:

“It is with deep regret that we inform our friends and fans that MobuzzTV has closed officially today. We need to take some time to see how best to reorganise our project. We have been talking with many interested parties but unfortunately we have not been able to financially sustain our operations until the agreements were closed.”

Although Mobuzz has been declared dead and buried, it has announced in no uncertain terms, that every charitable contribution made to it by its users will be sent back to where it came from. Also, the Mobuzz video archive that has been nurtured and grown during the previous four years will continue to be available online.

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