RIP Medfair, a startup that recruited high-profile artists to recreate comics for new formats and platforms.
An announcement on the Medfair website stated that the company explained in The Beat earlier this month “an assignment of benefits to creditors” (similar to bankruptcy as a state-level bankruptcy action) ). As a result, no new books will be published, users will not be able to purchase any additional books and they will be encouraged to download all their purchased content before the end of the month.
This news affects other apps built with Medfair’s technology. The Archie Comics app has also closed with the publisher writing, “We realize this comes as a surprise and we are doing everything possible to correct by our loyal customer base,” especially readers. Comixology Unlimited by offering one month membership for free. (Amazon acquired digital comics platform Comixology in 2014, launching an unlimited subscription service two years later.)
MedFare was first launched in 2012, when publishers were experimenting with formats such as motion comics. The company described its title as “Motion Books”, combining the animation and effects of motion comics with a more traditional reading experience.
“Motion comics are a passive experience, an experience that is tantamount to poor animation – it’s like watching a movie,” said Ben Wolstenholt, co-founder and CEO of the time. “Motion books are a reading experience, actively controlled by the reader – it’s like reading a book. Our goal is to have the best reading experience for the iPad.”
Perhaps the most impressive thing about the company was that the artists listed it before launch, including Dave Gibbons and Bill Sienwicz.
Recently, MedFare announced partnerships with other technology platforms, including Snapchat and the troubled augmented reality company Magic Leap.
According to Crunchbase, Meditair had raised $ 16.4 million in funding from investors including True Ventures, Plus Capital, Kevin Space (yes,). That Kevin Spacey) and Drake, but The Beat reports that the total was “more than that.”