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,…
Sign up today: Full annual membership for just €200. Don’t miss out on what is going on with our daily unique stories from our team of skilled journalists and insightful commentators. Members of The Currency get full access to over 3,200 exclusive interviews, investigations, and analysis, plus over 220 podcasts. Annual membership is just €200 for the first year, a saving of €100. Or try The Currency for the first month for a special introductory rate of €5, a saving of €20. Cancel at any time. To become a member today click here.
Join The Currency
INTRODUCTORY OFFER.