Cash Crunch At Will.i.am’s Tech Company Leads To End Of Smart Home Platform Wink
Will.i.am’s technology company i.am+ is facing a money crunch. Smart home platform Wink was acquired by i.am+ in 2017. Reports have emerged that employees have not been paid for nearly two months and the office premises have been temporarily closed down. It also looks like third-party devices are no longer working with Wink and the support team is not live anymore. Starting off as a manufacturer of iPhone cases, the company raised huge amounts in funding to start work with AI. A delayed deal with Majid Al Futtaim, a Dubai-based retail company, was the final straw in the company’s downfall.
Although the i.am+ is still in talks with MAF, it is not sure if they land on their feet. Earin, a wireless earbud company, is another company that didn’t go ahead with the deal with i.am+. The company owes over $2 million in state and federal taxes. While the company made some profit by selling Over.ai assets to Vonage. However, that didn’t last long. Employees are having trouble meeting their personal needs, with about 7 weeks of pay pending. Wink customers are not happy either about being left in the lurch.
Third-party products meant to connect to Wink’s smart home hubs have reportedly stopped working, including one customer’s door locks, according to a post on the Wink subreddit.
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