Pikum, an online social gambling startup which had $5.92 million in investment from Virgin USA and First Round Capital has shuttered. We’ve tried email and phone calls to get hold of the CEO and will update this post when we get official comment. However, the image on Pikum’s front page says it all.
Sources close to the company said “I think they ran out of money. As far as I know they spent a lot on getting the right gaming licences… and putting the infrastructure in place. Then they spent a lot on marketing.” That rings about about right. Adwords campaigns fell flat, while a weekly 10 minute-long studio-based video webcast garnered less than a 1,000 viewers. Then there were the “Pikum Girls”…