Friday, August 14, 2009

Desktop Factory Shuts Doors, In Process Of Sale

Pasadena-based Desktop Factory, the Idealab startup working on low cost, 3D fabricators, told its users this week that it is shutting the firm and will be selling its intellectual property, as it has failed to secure funding for the firm. According to CEO Cathy Lewis, the firm--close to the last 30 days of cash at the firm--believes it has found interested buyers for the company, and expects to sell the firm within the next 30 days. The company said that it is issuing refund checks to all of the customers who had placed deposits on the firm's 3D printers, and is now focused on closing a sale of the firm within the next 30 days.