The party is ON! Join us at TNW Conference 2021 in Amsterdam for face-to-face business!

Inside money, markets, and Big Tech

This article was published on January 14, 2009

Entrepreneur Morten Lund, of Skype Fame, Officially Declared Bankrupt

Entrepreneur Morten Lund, of Skype Fame, Officially Declared Bankrupt
Zee
Story by

Zee

Former CEO of The Next Web. A fan of startups, entrepreneurship, getting things done faster, penning the occasional blog post, taking photos Former CEO of The Next Web. A fan of startups, entrepreneurship, getting things done faster, penning the occasional blog post, taking photos, designing, listening to good music and making lurrrve.

morten-lundMorten 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.