SingTel and Comcast-backed social communications company Bubble Motion looks set to wind down following two failed acquisitions.
Singapore-based Bubble Motion, the operator of social network Bubbly, is to liquidate, Tech in Asia reported yesterday.
The company, which is backed by the corporate venturing units of SingTel and Comcast, has raised $55m in funding but may now fold after several acquisition deals have failed to substantiate, two sources told Tech in Asia.
Two potential acquisitions of Bubble Motion in the past nine months in particular led to the company’s stock price falling dramatically in the aftermath.
Bubbly is…
