Smartphone repairing startup Save gets picked up by Remade Group

The final time I wrote about Preserve, the French startup experienced just lifted $16.seven million to demonstrate that you could scale smartphone repair services. It’s been a roller coaster ride due to the fact then as the company experienced to claim insolvency. Soon after this process, Remade Group is selecting up Save’s business and personnel.

While the startup managed to increase quite rapidly, it was tricky to keep up with the pace. There have been some logistics concerns and some worldwide enlargement moves that didn’t perform.

I have heard some crazy board meeting stories about Preserve. Nobody could agree on what to do. Some preferred to fire the management team, some others preferred to fire board associates, while the startup preferred to increase far more money from a German trader. At some point, everything fell by and Preserve finished up filing for insolvency.

It’s quite high-priced to spend for 500 personnel operating throughout 137 outlets (most of them in French malls). Preserve experienced to fire aspect of the team, aim on the most rewarding spots of the company and improve everything.

Third-celebration firms could then bid to… conserve Preserve. Usually, the courtroom seems at all the offers and chooses the most effective one particular for personnel and the long run of the company.

Remade Group is a French company that sells refurbished smartphones. According to Preserve CEO Damien Morin, Remade Group is paying again the debts and the manufacturer Preserve will nonetheless work. You’ll nonetheless be able to find Preserve outlets in your favourite malls. And Preserve personnel will nonetheless have a position.

Preserve grew way too immediately and could not keep up with its crazy progress fee. Probably the startup could have grown a little bit far more slowly and gradually. But when you increase $16.seven million, the stakes abruptly turns into much larger as every person expects a huge exit from you.

It’s uncomplicated to seem again and retrospectively find out what went improper. So I’m not going to blame Preserve for their ambitious plans.