The company has raised $185.3 million in funding so far and has had a tumultuous year including multiple rounds of layoffs.
Quirky CEO Ben Kaufman delivered the message to New York-based employees at a meeting and remote employees via a memo seen by Business Insider.
“In an attempt to preserve our employees’ jobs and the future of the Company, we along with our investors have been actively pursuing several opportunities to raise the capital needed to maintain our business and avoid having to make staff reductions,” he writes. ”Unfortunately, we have not been able to obtain sufficient funding to enable us to continue to operate our business at the current levels of staffing.”
“Therefore, we must conduct a further reduction-in-force, which includes employees who work remotely and report into our New York City office.”
The company’s fundraising has been complicated, in part because Quirky has two businesses: Its invention platform and the smart-home platform Wink. Because of the lack of synergy between the two businesses — both of which are unprofitable — Quirky tried to sell Wink earlier this year. Those efforts ended after the company had to do an expensive nationwide recall of its Wink products because of a “completely preventable” security error.
Eink, E-paper, Think Ink – Collin shares six segments pondering the unusual low-power display technology that somehow still seems a bit sci-fi – http://adafruit.com/thinkink
Stop breadboarding and soldering – start making immediately! Adafruit’s Circuit Playground is jam-packed with LEDs, sensors, buttons, alligator clip pads and more. Build projects with Circuit Playground in a few minutes with the drag-and-drop MakeCode programming site, learn computer science using the CS Discoveries class on code.org, jump into CircuitPython to learn Python and hardware together, TinyGO, or even use the Arduino IDE. Circuit Playground Express is the newest and best Circuit Playground board, with support for CircuitPython, MakeCode, and Arduino. It has a powerful processor, 10 NeoPixels, mini speaker, InfraRed receive and transmit, two buttons, a switch, 14 alligator clip pads, and lots of sensors: capacitive touch, IR proximity, temperature, light, motion and sound. A whole wide world of electronics and coding is waiting for you, and it fits in the palm of your hand.
Have an amazing project to share? The Electronics Show and Tell is every Wednesday at 7pm ET! To join, head over to YouTube and check out the show’s live chat – we’ll post the link there.
Join us every Wednesday night at 8pm ET for Ask an Engineer!
Maker Business — To make it through a tough business cycle, layoffs should be a last resort
Wearables — Be outdoor ready
Electronics — When do I use X10?
Python for Microcontrollers — Python on Microcontrollers Newsletter: CircuitPython 6.1.0.RC0, Blinka Explained, and more! #Python #Adafruit #CircuitPython @micropython @ThePSF
Adafruit IoT Monthly — Our Favorite IoT Projects from 2020
Microsoft MakeCode — Space Jam, The MakeCode Show & More!
EYE on NPI — Maxim’s Himalaya uSLIC Step-Down Power Module #EyeOnNPI @maximintegrated @digikey
New Products – Adafruit Industries – Makers, hackers, artists, designers and engineers! — NEW PRODUCTS – Ultra Flexible White LED Strips – 480 per meter – 5m long – Warm White + Cool White
No comments yet.
Sorry, the comment form is closed at this time.