The end of an era, but very different than we would have thought.
Dear friends of Grape, customers and partners,
unfortunately, we have to announce today that Grape has filed for insolvency at the Commercial Court in Vienna. This means that the journey for our team in this form is over, but this does not have to mean that the brand and the product will not possibly find another place.
Why we are filing for insolvency
Even though we doubled our revenue in 2020, it gradually became clear to us that the market had changed too much during Covid (Microsoft and other competitors). Therefore, we started looking for a strategic exit and found one this year. With this deal, we would have doubled our team, received a new large investment from existing investors, and added telephony capabilities to our product.
The term sheet for this transaction was drawn, but due to external factors, we couldn't move forward with the transaction.
As the long-term viability of UberGrape GmbH is no longer guaranteed under the current circumstances, we were obliged to file for insolvency proceedings. We are all extremely unhappy about this outcome, but cannot go into more detail about the situation.
What this means for customers
As part of the insolvency proceedings, the Insolvency Administrator will decide whether and for how long the company will continue to operate. Until that time, we will endeavour to maintain the operation of our software in consultation with the insolvency administrator.
As part of the insolvency proceedings, we hope that companies will be found that want to continue to support our product and our 500,000 users.
After the opening of the insolvency proceedings and in consultation with the insolvency administrator, we will summarize further questions in a "Customer FAQ" as soon as possible. Until that time, please send support requests to email@example.com.
I am extremely sorry that after so much hard work we could not create a happy ending for customers, shareholders and our numerous supporters. We worked for almost a decade to create a European messenger solution and I'm still shocked that we went from Exit to Exodus in such a short time.
But that's the way the world is - unpredictable, constantly changing, and sometimes incomprehensibly destructive.
I will strive for clarity and - if possible - a sustainable solution in the coming weeks. Thank you for your trust.
(CEO, UberGrape GmbH)