On Wednesday, the live streaming company, YouNow, released its financials for 1H19, which showed the company’s deteriorating financial condition. Despite raising $21 million from SAFT sales for its Props token back in late 2017, the company now finds itself with only $3.4 million in cash and $2.3 million in cryptocurrencies (BTC and ETH) after a series of consecutive operating losses. The company highlighted a 32% increase in daily in-app purchases following the integration of Props onto its streaming platform in July. However, YouNow will likely need more help than that to dig itself out of the hole it currently finds itself in.
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YouNow 1H19 review: Revenue is up, but there is ‘substantial doubt’ about the company’s solvency written by Matthew Yamamoto @ https://www.theblockcrypto.com/genesis/43020/younow-1h19-review-revenue-is-up-but-there-is-substantial-doubt-about-the-companys-solvency?utm_source=rss&utm_medium=rss&utm_campaign=default October 12, 2019 Matthew Yamamoto