MoviePass Users Experiencing Outages Because The Company Ran Out Of Money
By Admin on July 27, 2018
So, this probably isn’t a good sign for MoviePass. Users of the business have been experiencing outages since yesterday. And it’s apparently because the company ran out of money.
According to USA Today, MoviePass had to borrow $5 million to $5 million to pay “merchant and fulfillment processors to correct the service interruption.”And stock prices have fallen, which is another sign that the writing is on the wall. It’s down at least fifty percent since this week.
I knew this thing seemed to good to be true. However, they could always turn things around, I suppose. There are more than three million users. And MoviePass recently started surge pricing for popular movies. It’s now a game of wait and see…