Hipcricket Bankruptcy Update – ESW Capital Outbids SITO Mobile

Hipcricket logo

HipCricket, a Tatango competitor, recently filed for bankruptcy as the company has accumulated losses of $93.7 million dollars since 2012, making it impossible for the company to continue operations. On January 20, 2015, a New Jersey based company called SITO Mobile Limited had agreed to purchase the remaining assets of Hipcricket for $4.5 million. Little did SITO Mobile Limited know …

Hipcricket Goes Bankrupt! Now What?

Hipcricket Logo

Tatango competitor Hipcricket filed for bankruptcy on January 20, 2015. Why? According to a bankruptcy declaration from interim CEO Todd E. Wilson, the company has accumulated losses of $93.7 million dollars since 2012, making it impossible for the company to continue operations. (2014 – $22.3 million in losses, 2013 – $48.8 million in losses, 2012 – $22.6 million …