Dailypresent declares insolvency

Vienna-based Dailypresent was forced to reduce its business to a minimum. When one of the investors of their second round, which should have closed at a seven digit sum, declined to sign the deal also the other supporter decided to back out. Not only the startups’ plans to expand their business are falling through, but also the number of employees has to be reduced from 30 to six, including the cofounders. At the beginning of the year Dailypresent was able to raise 850.000 euros but due to the failure of raising their second investment round the search for a potential buyer has now begun.