Fruugo is quickly shaping up to be a colossal FUBAR. For those of you needing clarity on what a F.U.B.A.R is http://en.wikipedia.org/wiki/FUBAR! The Fruugo's were full of hot air and puffery bragging before the show with an afternoon keynote at SIME (the Scandinavian Interactive Marketing & Entertainment Awards) modestly titled “Meet the most ambitious start up on the planet”. Fruugo was to explain where the company is coming from, what markets and product categories they were after and next steps http://www.arcticstartup.com/fruugo-to-arcticstartup-on-tomorrows-pr-launch/.
But guess what? They didn't even show up! And their CEO is history.
Check this out; http://www.nnsense.com/2008/11/fruugo-launches-nothing.html
According to sources (in finnish), Fruugo didn't launch it's service yesterday at SIME, as it was supposed to. Kauppalehti (also in finnish) writes that the CEO Reijo Syrjäläinen has left the company, and the new CEO is Juha Usva. They are now in talks with VC:s about new funding. Their biggest investor so far is Queensway Developments LLC..."
Is FRUUGO Finnish for FUBAR?