Dutch Crowd Funder Sellaband, integral part of the “Funding Bands” concept filed for bankrupcy on monday, it has been announced. The Dutch court approved the request yesterday.

In the between time though, it has been announced on the sellaband website that the project has found new owners in Munich, Germany. They have announced that the sellaband website is to go back online today. According to former CEO Johan Vosmeijer, the new owners will respect all committments towards believers who have invested in this project.

What does this mean for “Funding Bands”?

As yet there have been no transactions between Funding Bands and Sellaband! There is also at this present moment in time no reason not to carry on with the project. The development at the new Sellaband will have to be monitored carefully over the next few months, but even in the case that the new company does not take off, there are alternatives for us (e.g. Slice The Pie).

For readers interested in how this bankrupcy came about, here is a link with an analysis: http://www.wired.com/epicenter/2010/02/bankrupt-crowd-funded-sellaband-acquired-by-german-investors/

Sellaband website: http://www.sellaband.com/