Mr. Edmundo goes bankrupt; Per loses $47K
The company behind the music site Mr. Edmundo has filed for bankruptcy according to a report in the Halmstad-based newspaper Hallandsposten. Mr. Edmundo provided exclusive streaming content, often featuring Roxette: a behind-the-scenes documentary on the making of TCOTH video and two songs from Roxette's Stockholm showcase.
Per was one of the primary shareholders in the company, called People's Front of Streaming Video AB. Along with Per, Henrik Schyffert, Thomas Di Leva and Jonas Åkerlund invested a total of 1.5 million SEK (140,300 USD) in the company less than a year ago. Per himself invested 500,000 SEK (46,700 USD). The company hoped that celebrities would help them to sell their content to web portals and TV companies, but even that didn't seem to help.
Mr. Edmundo's website is still online, but their streaming video doesn't seem to be working at the moment.
Technical errors may occur.