Comments on: Garage Canada invests $2.5M into Lure Media

By: Lance Glassman

Lance Glassman — Mon, 24 Jan 2011 10:35:26 +0000

Why do released jogs my memory of some other related one which I just read in other places?

By: RN

RN — Mon, 17 Mar 2008 02:54:50 +0000

HI guys,

I am sure that you guys have been following this more than I do. Can someone please direct me to somewhere where I can find the full story on this.

Thank you.

By: MTLtechdude

MTLtechdude — Fri, 07 Mar 2008 02:01:54 +0000

Inactivity? Heri, you made me smile today.

HRALLOY
http://www.hralloy.com/pr03_2007.php

Praised
http://montrealtechwatch.com/2007/09/12/praized-gets-1m-funding-from-garage-canada/

Group IV Semiconductor
http://www.accessmylibrary.com/coms2/summary_0286-32533979_ITM

Just to name a few.. as far as I can tell they are quite active.

Why are you asking what I do? To be honest I have nothing to hide. I am what some people call a serial entrepreneur and have been in the biz since you were is diapers.

I rather not say what I am doing now lets just say I am in stealth mode to use the current jargon. My connection to this is that have close ties to some of the people involved and wanted to make sure that this was not swept under the rug.

It is not all rose water and sunshine, there are scoundrels out there and people who are honest. VC’s WILL make mistakes and hopefully they will get better at what they do, they are not saints. They have their agenda and it is quite simple they are only driven by greed there is nothing philanthropical in what they do.

By: Heri

Heri — Tue, 04 Mar 2008 00:41:28 +0000

“better decisions” => I haven’t seen any other investment decision coming from Garage Canada since they opened shop in Canada, apart from standoutjobs (which was not completed) and apart from lure media (which was pulled out)… so it might be the time to ask question about their (in)activity

by the way, MTLtechdude, are you an investor? an analyst? a journalist?

By: MTLtechdude

MTLtechdude — Sun, 02 Mar 2008 23:32:56 +0000

Well here are some details, about this mess:

Apparently the founder (Margit Leger, according to the press release) had many skeletons in her closet, she “lured” Garage into her trap and it looks like getting VC was her exit strategy, a way to get someone else to assume and pay for her bad deeds.

I looks like Garage took a real liking on this one, at least we can hope they learned a lesson and will hopefully make better decisions in the future. Indeed simple due diligence would have saved them 2.5M…

By: Heri

Heri — Sun, 10 Feb 2008 01:44:51 +0000

Austin Hill,

thanks for the comment. It seemed there was some problems with the founder.

I am thinking though Garage Canada should have foreseen this through the due diligence process.

By: Austin Hill

Austin Hill — Sun, 10 Feb 2008 00:47:37 +0000

Yeah, Garage has closed LureMedia according to what I had heard.

Also it is correct that Standout Jobs did not complete the financing with Garage Canada (which has been covered previously on Ben Yoskovitz’s blog and with the announcement of new financing from iNovia capital)

By: MTLtechdude

MTLtechdude — Fri, 01 Feb 2008 20:16:00 +0000

Well did some digging, rumor is confirmed Garage had pulled the plug on Lure Media (website is down).

By: MTLtechdude

MTLtechdude — Fri, 01 Feb 2008 01:13:33 +0000

Rumor has it Garage has pulled the plug on this one.

Anyone know why?

By: Heri

Heri — Mon, 15 Oct 2007 13:23:38 +0000

Mathieu: that would really suprise me. where have you heard of this?