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- Newchip, operating under Astralabs, filed for Chapter 11 bankruptcy in March, revealing a significant disparity between its assets, valued at $1.7 million, and its liabilities, totaling $4.8 million. The case was later converted to Chapter 7 liquidation by a bankruptcy judge.greyjournal.net/news/newchip-online-accelerator-faces-bankruptcy-and-controv…
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This Austin accelerator made big claims; employees and …
It isn’t just employees who say they were burned by Newchip. Andrew Goei, founder of PitchPages, a pitch deck and fundraising software startup, said he wanted a refund a few months into the program after he felt he was not getting the promised services, specifically the investor intros. In an interview with TechCrunch, … See more
Though the employee group has more recently gone public with their grievances, they make claims of mismanagement going back years, including the clawback of sales commissions … See more
Newchip's bankruptcy serves as a cautionary tale to founders
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Newchip Enters Into Bankruptcy Liquidation - SiliconHills
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