Topic: Discussion about Chumby.com health
Unfortunately there is no way to split a thread, so I've quoted all the posts from another thread that went off-topic, so the discussion can continue without further derailing that thread.
Chumby the company is almost out of funding and shutting down. There is no real support left. that is why you did not get any response.
if you need a new power supply you can pick one up from ebay for $10-$15. look for a 5V AXIS IP CAMERA power supply.
Chumby the company is almost out of funding and shutting down.
zurk wrote:Chumby the company is almost out of funding and shutting down.
Speculation on your part; if you can point out an official site post or forum post from a staff member saying so, please let me know. I'm sure they're thinning their ranks, as it's rather necessary when you're transitioning out of hardware production, but you're not doing the Chumby community any favors by disseminating rumor and supposition as fact.
Ditto, I was thinking the same, is there a quote or post?
Reagrds, MattDoktor Jones wrote:zurk wrote:Chumby the company is almost out of funding and shutting down.
Speculation on your part; if you can point out an official site post or forum post from a staff member saying so, please let me know. I'm sure they're thinning their ranks, as it's rather necessary when you're transitioning out of hardware production, but you're not doing the Chumby community any favors by disseminating rumor and supposition as fact.
no there will be no official post. dont be silly. what are they going to say -- Hey guise! we are going bankrupt and its all cool ! continue using our products !
its a mathematical equation which proves it :
in 2008 chumby raised $12.5 million.
in 2010 chumby went out looking for funding. they got $5 million. burn rate is $6 million a year.
they stopped producing products around a year ago. thats beginning 2011. Lets be generous and assume burn rate was cut to $3 million/yr and no winding down costs for shutting down manufacturing operations.
In 2011 they got $1 million in funding. Lets be generous and assume their contracts with sony/profit on their devices/bestbuy contracts which expired a year ago netted them $5 million profit.
So from 2010-2012, they have $11 million. 2010-2011 they burned $6 million, same as previous years.
2011-2012 they burned $3 million. Thats $2 million left for the current 2012-2013 timeframe or a $1 million shortfall for the curent year. so maybe september is the end if they dont get funding.
We also know their sony contracts wont net much revenue this year (sony left, taking the servers with them). bestbuy has cancelled the insignia/chumby line. they dont sell anything out of their store.
So incoming revenue is purely advertiser driven which they have reduced by playing less advertising apps. Outgoing is based on amazon servers which are really expensive to run. basically chumby inc is running on fumes.