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French automaker Renault to buy failed start carpooling.
There are a few months, we have reported the collapse of Karhoo a start-up of young conduct sharing that has served the New York area and London The company failed after it ran out of money According to some estimates he burned by an impressive 250 million round of funding, although some sources say the real figure was lower in 18 months, leaving behind a mountain of unpaid salaries and bills.
In the startup world, it is rare that you get a second chance, but here we are with the French automaker Renault Karhoo purchase for 1 million tiny.
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The details of this case were confirmed by TechCrunch Stepping into the role of co-CEOs are Boris Pilichowski Andean and Nicolas, who ran the company in the last days before its collapse.
Provide full financial support is RCI Banque and services that is the financial services wing of Renault.
A document provided to TechCrunch shows that Renault will be plunging 1 million in the company Half Karhoo be used by for the operation day to day of the business, with the other half to unpaid creditors is also additional 15 million of confirmed investment.
The original Karhoo had 200 employees, based in London, New York and Tel Aviv This time it's believed that there will be only 35 staff members, located in London.
In a statement, Gianluca De Ficchy, CEO of RCI Banque and services, said the acquisition of Karhoo startups appeared as a sudden opportunity we did not want to miss and the acquisition was completed quickly.
We met very motivated teams and I trust in the business model Karhoo; It is innovative and underpinned by a first class technology platform he added.
From Ficchy also acknowledged the various problems that led to the collapse of the original Karhoo, namely that he failed to launch mobile timely.
Karhoo also suffered some billing problems overpricing in some cases and not to load other, it also lacked the sufficient fraud protection.
With prudent hand Renault at the wheel, there is the chance of a that issues Karhoo could be a modest success this time but given its high profile collapse, his flawed name, and the domination of Uber in his London market, I would not bet too much on it does.
French carmaker Renault buy failed start for now, French, manufacturer, Renault, has.
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