Mr Beechinor said that Mr Quigley had worked with Altada’s digital marketing team on a project around the time that the business first ran into difficulties earlier this year. Mr Quigley could not be reached for comment.
In August, Altada announced that it had furloughed a number of staff on “temporary” basis due to “unforeseen market conditions”. The company, which employed 13 people in Ireland last year, had plans to grow its headcount to 100 before it faced financing issues following delays to a planned funding round earlier this year.
Senior management had expected Altada to achieve a $1 billion valuation in 2022 after it raised $11.5 million in a funding round last September, led by Rocktop Partners along with Elkstone Partners and Enterprise Ireland.Mr Beechinor said this week that the company has been “in a holding pattern” as it looks to secure fresh investment, which he said was imminent.
He told The Irish Times that he would be able to share information about the investment later in the week. On Friday, he said Altada was “still working through legals” and that he was “bound by NDA [non-disclosure agreement]”.
They must have one of the worst track records in running businesses
Scammers. Can the rest of us who are still owed money by these charlatans move to the head of the queue?
Had expected a €1 billion valuation 😂😂