The Next Web

Entrepreneur Morten Lund, of Skype Fame, Officially Declared Bankrupt

By Zee
January 14, 2009
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Entrepreneur Morten Lund, of Skype Fame, Officially Declared BankruptMorten Lund, the (in)famous Danish entrepreneur of Skype fame was yesterday officially declared bankrupt. The founder who we have discussed previously has founded/co-invested in more than 40 startups in the last 10 years – the most famous being Skype, snapped up by eBay for $2.6 billion.

In may 2008, Lund sold Danish social networking and mobile backup site ZYB to Vodafone, for a figure of around $49 milion. However, despite the success of Lunds previous investments, one startup Nyhedsavisen has brought the entrepreneur to bankruptcy.

The startup was officially closed down in August 2008 with Lund losing 10M Krona (1.3M EUR) in the investment.

Lund has always been known for his honesty and directness, highlighted over and over again on his blog. The entrepreneur also wrote a brutally honest post regarding the closure a few months ago which is also a must read.

Mike Butcher from TechcrunchUK also highlighted a wonderful speech from Lund given at Le Web last year, I highly recommend you watch.

**Update**

Morten has just posted a wonderful update regarding the situation which I highly recommend you read.


  • Entrepreneur Morten Lund, of Skype Fame, Officially Declared Bankrupt http://is.gd/fTjE
  • He always said that "professionals build the titanic and amateurs build the ark". @ Zee Entrepreneur Morten LundBankrupt http://is.gd/fTjE
  • He always said that "professionals build the titanic and amateurs build the ark". @Zee Entrepreneur Morten LundBankrupt http://is.gd/fTjE
  • As Morten said to the danish media: “Its like superman getting his suit stolen - im shaken and dont really wanna talk about it. I will come back again with full power, i just need to wash my suit.”

    He will be back, bigger and better than before.. Morten always said that professionals build the titanic and amateurs build the ark. You win some and you lose some.. It all makes you stronger and more wise. Im sure Morten will be back very very soon!

    He is a true entrepreneur, he does the walk - whatever it takes! And belive me, you aint a true entrepreneur until had to close a company or go bankrupt with one..
  • Saw his presentation during Le Web. Impressive stuff! A side of entrepreneurship that is usually hidden...
  • He writes about his bankruptcy at his blog (http://lundxy.com/) and the way in which he (very honestly) entails what went wrong is actually quite refreshing.
    Be certain to check it out!
  • This is a very sad story. I met Morton in Amsterdam about 2 years ago. He's a great guy and a bold entrepreneur. I wish him, his wife and 4 kids all the best.
  • In sad VC news...guy from Skype just declared bankruptcy. http://bit.ly/1GgzkK Have to admire his positive attitude http://bit.ly/VTnL
  • I discovered Morten in a video of a speed he gave last year in Berlin @BIC. He impressed my right away - so I posted it on my blog. I recommend it to everybody to see how much energy his guy has. I'm sure he'll survive.
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