Ugobe Pleo IP could be hot property in bankruptcy sale

Apr 22, 2009
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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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