philip lelyveld The world of entertainment technology

Hyped augmented reality startup Blippar lost £34 million and warned it needs more money to stay afloat

• British augmented reality startup Blippar has warned that it needs more cash to stay afloat.
• The company posted a loss of more than £34 million ($45 million) for the year to 31 March 2017.
• Blippar blamed its losses on its technology investments — but has since shuttered its Silicon Valley office in an apparent bid to cut costs.
• The filings show that an exec from one of Blippar's biggest investors, Malaysia's sovereign wealth fund, has quit the board.
• See the full story here; http://www.businessinsider.com/blippar-lost-34-million-in-2017-and-needs-more-cash-2018-6