Ugobe Pleo IP could be hot property in bankruptcy sale

Apr 22, 2009
Ugobe Pleo IP could be hot property in bankruptcy sale

Further details of Ugobe's bankruptcy have emerged, including hints regarding whether the Pleo-maker's dinosaur robot will be scooped up by a rival toy firm.  According to CEO Caleb Chung, the financial collapse came about when European and Asian customers - who made up 90-percent of Ugobe's business - failed to secure their own funding, leaving Pleos sat in crates across the world without the money to pay for them.

It's perhaps a positive sign that customer demand is still reasonable, and Chung revealed that Ugobe did in fact explore a sale or merger with a larger company.  That failed to pan out, due to "nervousness in the market."  However the degree of interest has led him - and others - to assume interest in the bankruptcy sale will be strong.  In fact, Chung believes it won't merely be toy manufacturers angling to acquire the Pleo IP; he envisages a broad range of companies bidding, in recognition that "robotics are the next PCs." 

If you're a Pleo owner concerned about where your favorite robo-dino's next replacement battery will come from, or angling for details on another charger, you could do a whole lot worse than checking out our friend Robert Oschler's site Robots Rule.  With the demise of the Pleo World site, it looks like it will be left to fan-resources such as Roberts to tide over users with technical support and general assistance.

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