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Napier Lopez
ReporterNapier Lopez is a writer based in New York City. He's interested in all things tech, science, and photography related, and likes to yo-yo in Napier Lopez is a writer based in New York City. He's interested in all things tech, science, and photography related, and likes to yo-yo in his free time. Follow him on Twitter.
MoviePass is dead. Again. For real this time though: as reported by Deadline, the company declared bankruptcy today, and there’s no way it’s coming back.
MoviePass shut down its services in September, but at the time, its parent company Helios and Matheson Analytics was still looking into a potential sale. There was at least a bit of a chance the service would be revived under new ownership.
But MoviePass’ leadership has all resigned now. Moreover, the company has filed for Chapter 7 bankruptcy, meaning its assets will be dissolved (as opposed to Chapter 11 bankruptcy, where a company might try to reform itself in a more financially stable manner).
As noted by my old colleague Matthew Hughes, maybe it’s time we start funding businesses that actually make financial sense now.