Wed, 10 Sep 2014 | BUSINESS SALE
The London start-up behind the Little Printer, Berg, is preparing to enter “hibernation” and plans to shut down by March 2015 if a buyer can’t be found.
The Little Printer, which retails for up to £149 a unit, is a small device that connects up to the internet and allows users to print off news and social media messages onto receipt-sized rolls of paper. It has succeeded in selling thousands of the units across the globe since 2012, when the business was set up.
In regards to the eventual closure Berg said it hadn’t been able to reach a “sustainable business in connected products”. “We’re wrapping up for this incarnation,” the company’s chief executive Matt Webb said in a blog post.
The company indicated that it is searching for a new owner for the Little Printer, and that it would be particularly looking for a business that “could commit to supporting and developing it. That means having hardware, software, and service capabilities, and being able to put resources into the product”.
Berg is to retain minimal levels of staff until March 2015 to keep the Little Printer operation ticking along.
Berg itself is a British design consultancy, a technology start-up that grew in the “silicon roundabout” in east London and was established in 2005. It was given over $1 million in investment backing from companies including Connect Ventures, Index Ventures and Initial Capital.
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