Robotics Trends

Ugobe, Maker of Celebrated Pleo, Goes Broke As predicted by RoboticsTrends’ sister publication Robotics Business Review, Ugobe, Inc., manufacturer of the ultra-lifelike, ultra-expensive Pleo robotic toy dinosaur, has declared bankruptcy.  The company has laid off its staff and filed for liquidation of its assets under Chapter 7 of the bankruptcy code, according to a story this morning in the Idaho Statesman, the local paper that covers Eagle, Idaho, the hometown to which founder Caleb Chung returned the company last year after downsizing and closing the company’s Silicon Valley operations.  In its bankruptcy filing, Ugobe listed assets of $1.6 million, all but $100,000 of which was machinery in the Hong Kong factory where Pleo was manufactured, and debts of $3.6 million.  Robotics Business Review analyst Laura DiDio mapped out the short, intense celebrity of… View this post
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Tagged: Robotics industry, Robotic toys, Financing, Bankruptcy, Retail