Seattle-based MOD Systems, which makes technology to deliver movie and music files through self-service kiosks, is putting some workers on unpaid furlough as it attempts to raise more money. The news comes via TechFlash, which says it confirmed the furloughs with CEO Anthony Bay today. TechFlash also notes this SEC filing from early last month that said MOD Systems had raised about $500,000 of a planned $8 million financing. MOD has been through rough waters recently: Co-founder and former CEO Mark Phillips was convicted of federal fraud and money laundering charges last month, and the company said late last year that it was cutting about a third of its workforce.
Author: Curt Woodward
Curt covered technology and innovation in the Boston area for Xconomy. He previously worked in Xconomy’s Seattle bureau and continued some coverage of Seattle-area tech companies, including Amazon and Microsoft.
Curt joined Xconomy in February 2011 after nearly nine years with The Associated Press, the world's largest news organization. He worked in three states and covered a wide variety of beats for the AP, including business, law, politics, government, and general mayhem.
A native Washingtonian, Curt earned a bachelor's degree in journalism from Western Washington University in Bellingham, WA. As a past president of the state's Capitol Correspondents Association, he led efforts to expand statehouse press credentialing to online news outlets for the first time.
View all posts by Curt Woodward
