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Mobuzz Saved By The Community!

November 11th, 2008 · 3 Comments · Fundraising, Small Companies

Last week the founders of Mobuzz released a video asking their viewers to pitch in and help save the company.  They were asking for contributions of €5 to ease the company’s cash flow crisis.

Mobuzz has now collected €33k – a long way off the €120k they were hoping to raise – but they say that this has been enough to accelerate negotiations with advertisers and, together with non-financial contributions such as hosting which have helped reduce overheads, the company is now in a position to continue business as usual!

This is an amazing example of a community digging deep to save a service they love. Three cheers for the power of the community!

Here’s the recent video from the Save Mobuzz page:


Mobuzz Lives! from Anil de Mello on Vimeo.

Also, here is the text of the email sent out to all those who contributed:

Dear Friends and Supporters,

I wanted to write you and explain the current situation with Mobuzz.tv. Firstly, thank you for your support of Mobuzz.tv. The good news is that thanks to the money we received and to the amount of Buzz that was created we will be able to continue with Mobuzz programming. Thanks to you, we have a chance of survival.

We have been talking with advertisers and investors trying to get funding to continue with mobuzz, and until before last week our short term future looked very grim. However, as a result of the overwhelming support with banners, blog posts, tweets and more, our discussions with advertisers and investors has accelerated and become extremely positive. There are a number of deals underway that will secure our finances we can continue bringing you Mobuzz shows.

But you didn’t make the 120,000. So why are you continuing? With the money that we raised and the deals that are being made, it seems we do not need to raise the full 120,000. That was the money we needed to continue with production for at least 3 months until all the deals were made. Now, seeing as how the effect of the campaign has accelerated negotiations, we are confident that we will not need to bridge that long of a gap before the full financing is in.

What are you going to do with the money? We are still in a cash flow crunch but we promised that if we did not meet the 120,000 that we would return the money. So if you would like your money returned, please reply with a YES or No in the subject line. Those that paid with PayPal should have their refund within the week, those with a bank transfer it could take longer.

Again, thank you for your support of Mobuzz. Everyone’s name who donates will stay on the website forever. Please let us know if you would like a link to your site on your name to show our love.

Again thank you for saving Mobuzz! We could never have done it without you.

Sincerely,

Anil de Mello

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