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StudiVZ is broke: Outspoken – Golem.de

Friday, September 8th, 2017 | Gadgets

The Social Network StudiVZ, which also includes the MeinVZ site, has filed for bankruptcy. This is reported by Gründerszene.de, citing the company itself as well as the insolvency administrator.

The parent company can not pay its bills
According to this, the company Poolworks Germany behind StudiVZ is insolvent. The company can no longer meet a claim for damages from the former owner Holtzbrink. By the end of 2015, Poolworks Germany had owed its US-American owners 45 million euros. In addition, the company should also have debt with the financial office.
The business was handed over to Insolvenzverwalter Jesko Stark. According to Gründerszene.de, the company is confident that the operation can be maintained. The remaining seven employees of the company will continue to be employed and receive insolvency.
StudiVZ at the beginning in Germany more successful than Facebook
StudiVZ was founded in November 2005 and in its early days was a German-speaking alternative to the exclusively English-speaking Facebook. Many functions were simply taken over by Facebook – so users could grumble, for example, which was called by Facebook.
The platform expanded with increasing success also into other European countries. Originally intended for students, MeinVZ also created a version for non-students and with SchülerVZ a platform for pupils. With the growing success of Facebook and other social networks, the users turned away.
At the beginning of 2009 the European versions of StudiVZ were switched off. In April 2013 SchülerVZ was closed. It remains to be seen whether and how the core brand, StudiVZ, can be continued after the insolvency.

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