Well MoviePass (and it’s parent company) is officially dead.
Goes to show even a market disruptor can fail without a solid business model.
Here’s a timeline from Robinhood Snacks:
Goes to show even a market disruptor can fail without a solid business model.
Here’s a timeline from Robinhood Snacks:
2011 - 2019: MoviePass shuts down after disrupting the movie industry |
It lived life 2 thumbs up... Unlimited movie tickets for $10/month. MoviePasswas truly Netflix, but in-theater. It sounded too good to be true... and it was. Its parent company, Helios and Matheson, officially shut down the all-you-can-eat movie buffet subscription on Saturday after an epic run. Helios shares hit $5,100 at peak MoviePass insanity. Today they're $0.0018. Let's look back on a short life well-watched...
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THE TAKEAWAY |
Disruptors can fail, too... Drive any commercial strip and you can rubberneck bankrupt chains (Sears, Sports Authority, Radio Shack). But MoviePass shows that a new, completely digital tech company can fail too. Investors ask "what's the path to profits" for awesome-but-loss-making companies like Uber, Snap, and SmileDirectClub because they don't want to watch their shares go to almost $0 like MoviePass. |
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