So soon after my last post, has one of our biggest Unicorns breathed its last? It's a tad embarrassing, especially as the CEO recently claimed Powa was en route to becoming bigger than Google or Alibaba.......
Powa Technologies, the London technology company once valued at £1.8 billion ($2.7 billion), has collapsed into administration, putting over 300 jobs at risk. Deloitte confirmed over email that it has been appointed to take over the business, which has run out of cash and can't pay its debts. Nick Edwards and Rob Harding of Deloitte are in charge.
http://uk.businessinsider.com/powa-technologies-lines-up-deloitte-as-administrators-2016-2