On October 5, at 5.09 in the afternoon, the disparate shareholders of Swrve received an email setting out the terms of a dramatic corporate restructure aimed at ensuring the survival of the Irish mobile software firm. Over the previous 11 years, they had ploughed a combined $125 million into the business, convinced by the potential of its in-app marketing software. Now, they were receiving a proposal that would dramatically reduce their shareholding and crystalise significant financial losses. Struggling with declining revenues and high operating costs, the company had raised $7 million earlier this year just to keep going. Months later,…

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