Ding dong, the completely unsustainable witch is dead. As we reported earlier today, MoviePass is shutting down. It leaves behind a few now...
Ding dong, the completely unsustainable witch is dead. As we reported earlier today, MoviePass is shutting down. It leaves behind a few now-useless cards, and several major VC funds out of pocket to the tune of $68.7M. Make no mistake, this was a completely predictable turn of events. For over a year, MoviePass has struggled with cash-flow struggles, primarily because it had an utterly doomed business model. In short, it sold a product (movie tickets) for far less than it cost to acquire, with no concrete plans to reach profitability, save for vague postulations about “analytics” and “partnerships.” At first,…
This story continues at The Next Web
from The Next Web https://ift.tt/34KIvKA
via IFTTT
COMMENTS