Cambridge Cluster voice expert Tony Robinson was drafted in to bail out Spinvox’s technical problems but to no avail. The Daily Telegraph reports that the announcement of the £64million sale of Spinvox was all spin and went to repay short term loans. The founders and early investors shared £600 each and the hard working staff found their shares and options worthless. Let us hope they can find better rewards with the purchaser, US rival Nuance Technology. It would be interesting to know why Nuance bailed out the short-term loan holders.
People talk about entrepreneurship being in the genes but not this time. Christina Domecq, scion of the Domecq sherry dynasty, and Daniel Doulton, a descendant of the Royal Doulton pottery family “will receive nothing for their shares”. All that hard work is just experience for the next venture. Wish business plan resource will they use for their next venture? And best wishes to the ever youthful and dashing Tony Robinson.
Hat tip: DT
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