FactoryZOO.com bankrupt

FactoryZOO.com, an incubator from the Twinning barn, was declared bankrupt by the court in Den Bosch on 2 January. According to co-founder and shareholder Cor Boonstra junior, the company went under after a failed new financing round. Boonstra says it has an interest of "around twenty percent" in FactoryZOO

FactoryZOO.com, an incubator from the Twinning barn, was declared bankrupt by the court in Den Bosch on 2 January. According to co-founder and shareholder Cor Boonstra junior, the company went under after a failed new financing round.

Boonstra says it has an interest of "around twenty percent" in FactoryZOO. He now said he would lose an investment of 400, 000 guilders. According to Boonstra, the company had no shortage of customers, but a new investment round broke. FactoryZOO is for the most part owned by Boonstra and CEO Frank Melis. The latter was not available for comment yesterday. According to spokesman Marc Klamer, Twinning only holds an eight percent stake. He confirmed Boonstra's story that the absence of follow-up funding heralded the end of the company.

FactoryZOO (ZOO stands for Zillions of Opportunities) guides entrepreneurs in the development and development of new e-business activities. The company plays the role of "executive producer", analogous to the film industry. Concrete projects included a business plan for online music trade URMusic, another Twinning participation. FactoryZOO is also the owner of ChannelZOO.com, a facility company for web radio, for 49.01 percent. According to curator Mr. Van Oeijen, this company is not involved in the bankruptcy. In total, five jobs disappear at FactoryZOO.

It is the second bankruptcy of a Twinning holding in a short time. On 2 January, the curtain for eSupport Systems (formerly Flex Training) also fell. The shake-out at Twinning had previously been predicted by director Michiel Westermann. Of the 55 original participations, about thirty-eight are left. Klamer nevertheless states that Twinning will soon announce a new shareholding, but he did not want to give details yet.