news.ycombinator.com• Dec 22, 2011• 1 min read
Fusion Garage Up For SaleFusion Garage CEO and co-founder Chandrasekar Rathakrishnan told BT that the firm is putting itself and its intellectual property on sale, in an effort to salvage the situation. 'Everything is being considered,' he said.This follows reports over the past few days of the company getting dropped by its US-based lawyers and PR agency as a result of default on payments.Mr Rathakrishnan confirmed that the company's engagements with Quinn Emanuel and McGrath Power have been suspended. He said that the company, which is majority owned by a group of Asian investors, is running out of funding, as its investors have decided that it is too expensive to continue to fund its tablet ambitions.The fall has been steep. In 2009, US media company TechCrunch contracted Fusion Garage to develop a Web-surfing tablet device it would call the CrunchPad. The device was announced a month before Apple mentioned its first iPad, and TechCrunch received a swarm of interest and pre-orders online.The journey has bee