Blueboard shuts down with no mention of returning assets | Hacker News Reader

Blueboard shuts down with no mention of returning assets

blueboard.com

10 pointsMobileVet11 comments

We utilized Blueboard for one of our employee recognition programs. Every year, on your anniversary, you were awarded a gift of your choosing. They provided a lot of fun options, from cooking classes, to furniture, to ski trips and everything in between.

Structurally, we paid them for each award and then they handled the administration of the awards, including concierge service as our employees redeemed them.

The result is that if an employee hasn't used an award, Blueboard was banking the money on their side.

In a 'fantastic' case study in how NOT to shutdown a company, today we (including all of our employees) got an email saying they were shutting down immediately. No mention of returning funds was made, which is the #1 question of any customer of theirs needs to know. A close #2 would be the status of awards that were currently in process or booked, also not mentioned in the email.

Does anyone have further information on this? Has anyone been able to make contact with the team?

Basically Triplepoint, who Blueboard had borrowed money from, wanted their money backs after Blueboard defaulted, taking all money from their accounts. Entire company went under and everyone lost their job w/ no severance after being told to optimistically expect an acquisition or funding. You won’t get any funds back, anything in flight that isn’t paid for won’t be paid for. Ask the ex ceo for a check or sue for breach of contract.

For those impacted by the recent developments at Blueboard, we at Vantage Circle (www.vantagecircle.com) understand the uncertainty caused by recent events. As a trusted employee recognition SaaS provider, we're here to offer a smooth transition. Experience our speedy onboarding and the stability of our profitable company, ensuring continuity and support for your recognition programs.

I never received an email. I found out through my employees who got the notice. I tried reaching out with no luck... I contacted our legal counsel and it turns out there is not much any of us can do in this situation. If you hear of anything, please let me know. I don't know if all of us who had money sitting with them can come together to do something. I'll save this link to see if others chime in once they realize what happened and start googling themselves.

CEO is nowhere to be found but the CFO posted this message. There is a huge lack of accountability from their executive team. But you can try here

https://www.linkedin.com/posts/scottbroomfield_to-our-bluebo...

As a now former employee of Blueboard I found out the CEO hopped on a plane to Asia today. Meanwhile myself and so many others were blindsided with no severance. Epitome of toxic leadership.

Everyone should send an email to taylor @ blueboard . com about this. Just my two cents here as an ex employee

I feel completely out of the loop. What is Blueboard? What assets does it hold onto?

You know it’s a solid business plan that shouldn’t be investigated when the employees were told not to ever say “ponzi” or “pyramid” lmao

This is not true in the slightest. Way to spread misinfo

you should definitely look up the definition of a Ponzi scheme because you clearly don’t know what it means and are just throwing that word around. I’m not defending blueboard, just saying that you shouldn’t be spreading misinformation because you’re only making the situation worse and not adding to it

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