myWorld withdraws from start-up business, locks up “360 Innovation Lab GmbH”, “360 Ventures GmbH” and Coworking Space in San Francisco!
myWorld confirmed to the press: “We can confirm that we are withdrawing from areas such as events, advertising, media and startup with a heavy heart we will not continue to operate all those companies that are not directly related to the core business Cashback World. A majority of the companies could be transferred to the respective management team, a part will be dealt with”, myWorld said.
Even “Eyetime” (insert link) was presented as the big media throw, Facebook and Instagram, Whatsapp etc. were to be replaced long ago and Eyetime was to be the world market leader. Klangheimlich the company is no longer present and, according to the company register extract, inactive.
360 Innovation Lab GmbH and also 360 Ventures GmbH are liquidated as well as the coworking space in San Francisco, which was part of the group, is closed. It is still ringing in the ears how Andreas Matuska presented just these companies as “sich and extremely successful” in his webinars in May/June 2020.
Covid-19 is of course to blame for everything and the cloud allocations are delayed, but payments into the pyramid scheme can be made immediately and without delay. myWorld Travel, myWorld Market Place and Cashback and according to the Lyconet salespeople, are of course affected by this. Whoever believes it, is to blame.
see also: myWorld zieht sich aus Startup-Geschäft zurück, Grazer Accelerator 360 Lab sperrt zu (trendingtopics.at)
Translation of the newspaper article:
myWorld withdraws from start-up business, Graz Accelerator 360 Lab closes!
Establishing new standards, breaking up familiar patterns of thought and taking new innovative paths in the development of ideas, products and business models – that was the goal of the 360 Lab Innovation Group, which includes a start-up accelerator in Graz and a low venture capital under the name 360 Ventures.
However, nothing is going to happen. About two years after the promising start, both 360 Innovation Lab GmbH and 360 Ventures GmbH are being liquidated. For both companies, the decision was made in August and September 2020 to shut them down. About 20 people worked in Graz for the Accelerator, which took a number of start-ups under its wings in several batches. Investments were also planned.
The 360 Lab was also critically observed in the start-up sector. After all, behind the Accelerator, which wanted to invest in young companies, was the widely ramified group of companies known as myWorld that is centred around Hubert Freidl, formerly better known as Lyoness, which had renamed itself after lawsuits and bans around its discount shopping community (Trending Topics reported).
Corona crisis makes economic situation more difficult
“We can confirm that the economic situation due to the Corona crisis has made it necessary for us to withdraw from sectors such as events, advertising, media and start-up and with a heavy heart we will not continue to operate all those companies that are not directly related to the core business Cashback World. A majority of the companies could be transferred to the respective management team, a part will be dealt with”, so it is stated on the part of myWorld in regard to Trending Topics.
The coworking space in San Francisco, which was part of the group, is being closed as well. “The 360 Lab SFO served start-ups and established companies primarily as a coworking space to network and to initiate innovative projects together. Due to the Corona crisis, this innovation hub had to close its doors. Therefore, it was unfortunately unavoidable to liquidate this company as well,” it continues. “In contrast, the CodeLab in Warsaw will remain part of the myWorld Group.”
“Good and motivated team”
The 360 Lab also invested in the Viennese startup byte heroes, better known as Herosphere, which tried to link block chain tokens with bets on e-sports. It was also decided to discontinue this company. Most recently, 360 Lab still held an 8.3 percent stake in the startup.
But the end of 360 Lab has nothing to do with this. “For us, the cooperation worked out well, they had a good and motivated team that helped us a lot”, says byte-heroes co-founder Paul Polterauer to Trending Topics. At the moment he cannot and will not say anything about the future of his own company. According to myWorld, an asset deal is currently being worked on with other investors.
There is another investment: 360 Innovation Lab GmbH also had a 25 percent stake in Kapun GmbH. “The shares in Kapun GmbH will be transferred within the group,” it says.
Just wanted to share some news as I am following myWorld story.
From an X person I got news that many managers were fired that worked on myworld.com e-commerce solutions including himself. Despite the fact that the e-commerce was booming this year for the very known situation we are in. In between they also gave employees only 50% of working time for few months but then someone complained to the syndicate or AK in Austria and they had to pay all employees back full salaries. Its not Covid to blame.
He also said that there were rumors myworld.com shops will be closed/shut down by the end of January 2021. Now I am not 100% sure about that, but if I could bet on it I would. So not only this pathetic 360 lab, they really messed big time with such an opportunity of really creating a business that could be legal and self sustained. Instead focusing on real customers they wanted to push down to everyone this useless cashback membership, shopping points and evouchers. Yeah we just need slot machines on ecommerce page.
What a waste of money, energy and time for mere entertainment of few guys at the top. Really every act they make is just trickery.
Don’t take me for word, but the time will tell.I will be laughing with tears in my eyes reading the news on your page next year when this happens.
Keep up the great work. Its really eye opening. Its hard to get the truth in this world, you are one of the rare exceptions. Good luck!