Clinkle, a well-funded startup run by Lucas Duplan, the Prince Joffrey of mobile payments, recently revealed its $30 million idea. After rounds of layoffs and many setbacks, young Duplan has bestowed the world with . . . a debit card. Not sold? Well how about if Clinkle gives you $20 from its Treat Bot vending machine?
One of the many gospels Apple delivered to tech bloggers today was Apple Pay. It's a magical sounding mobile payments system that will use near field communication (NFC) to let users pay for things in front of them through their phone. The magic might be lost on child CEO Lucas Duplan, who raised more than $30 million for Clinkle by telling venture capitalists he could do the same thing. He has not.
Last week, Recode reported the departure of two more top executives from Clinkle, a San Francisco startup that's trying to create yet another way to transfer money with your phone. Investors have paid Clinkle tens of millions of dollars since 2011, and the company has yet to release a single product, while it keeps bleeding staff.
Fortune's Dan Primack reports that Clinkle, the stealth mobile startup company that raised $25 million in venture capital without really explaining what it does, has "issued pink slips to 16 of its 60-person staff, or just over 25%." The layoffs have not been in engineering, but rather the business side of operations.
The more we learn about Clinkle—a mobile payments app so fantastic, so splendorous, that the startup hasn't deemed our species worthy of any details—the duller it seems. Another way to pay with our phones—super. But what's lackluster for us is miserable for them: according to a new post on Quora, working for the joint's infamously young boss is hell.