Mobile Shopping Portal Shuts Down

With the bulk of its revenues coming from struggling e-commerce plays, the software outlet's thinning margins eventually spelled the end.
After raising and burning through approximately $50 million in venture capital funding, New York-based software firm has shut down and put its assets up for sale., which built the downloadable "Dashbar" product that offered pop up discounts to Web shoppers, has laid off its remaining 23 employees and a skeleton crew, including CEO Dan Kaufman is actively shopping the company's technology.

The company's backers included the Omnicom Group, AT&T Ventures, JP Morgan Investment Corporation.

At its peak, employed upwards of 100 employees in the Alley but with the bulk of its revenues coming from struggling e-commerce plays, the company's thinning margins meant that a shutdown was inevitable, according to a spokesperson.'s merchant partners included,,, and PC maker Dell.

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