Monday, December 7, 2015

Fuhu Files For Bankruptcy

El Segundo-based children's tablet maker Fuhu has filed for Chapter 11 bankruptcy, in surprising news from what had been one of LA's fastest growing technology companies. The filing was made in the U.s. Bankruptcy Court in the District of Delaware. Fuhu is reportedly in a deal to be acquired by Mattel for $9.5M as a part of that filing. The filing is very surprising, given that the company was named to both the Deloitte Fast 500 in 2014, nationally, last year for its growth rate, and was also Inc Magazine's number one fastest growing company in 2014, with 2013 revenues of $195.6M.