CARISSA WODEHOUSE / Friday, May 2, 2008 06:55 PMToday
Nau announced that "due to crisis in the capital markets" the company was unable to obtain enough funds to move forward. They did it with their typical charm, even nabbing the best headline, "Goodbye for Nau" for their press release. Through their 5% donation program, Nau donated $223,000 to non-profits in just under one year of business. That's an admirable achievement for a little company struggling to stay afloat.
I covered Nau twice before they launched, first for
Ultra PDX in November 06' and later for Plenty Magazine, so this is the death of one of my pet companies. The offices were buzzing with energy back then, and the people could not have been nicer or more enthusiastic. They were heavy hitters too, coming from years of experience at places like Patagonia and Nike. So, what went wrong? At the risk of kicking Nau while it's down, I saw this coming.
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