Trutap - mobile instant messaging, texting and social networking
Trutap is shedding 80% of their staff (from 31 down to 4 or 5) so they can keep the service going while they look for new finance or sell.
Rumours of change we already being whispered at Mobile Geeks of London last week. Like many start-ups Trutap have a great technology, but they hadn't sorted out a clear revenue model (well they had developed an advertising platform, but it hadn't launched yet).
There's still too much great tech out there, with no clear revenue streams and whatever people say, business is all about generating revenue for shareholders and in these economic times shareholders get nervous.
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