Together, they went over the loss in lucrative contracts that had kept Digital Royalty afloat, and the decision to shut down wasn’t taken lightly. Martin went public with the news today through a blog post she wrote on the Digital Royalty site and also through an email blast to subscribers. In addition to closing Digital Royalty, Martin will be paying back the investors in full and providing the rest of the team with severance packages and job placement assistance. As the post reads, the upcoming strategic shift in the next quarter made Martin and her team take a long look in the mirror to ask: what would make the most sense for shareholders and employees moving forward? Even in the end, Martin put the Digital Royalty community ahead of herself. Mirroring Flores’ words, Martin tells us that her immediate priority is to focus on helping the employees while winding down operations as smoothly as possible for the partners. You can expect to see some former team members starting their own consulting work while others seek ways to continue to disrupt and impact the world in their own way. The Digital Royalty crew also went out of their way to thank the shareholders who were courageous enough to take a chance on the team, Martin, and the core values. In return they’re paying back all the investors – most notable Tony Hsieh and Baron Davis. Editor’s Note: Tech Cocktail/Tech.Co is also funded by the Downtown Project Small Business Fund. They moved operations from Phoenix to Downtown Las Vegas to become part of the Downtown Project three years ago, and to this day Martin couldn’t be more proud of her decision. As for what’s next for Martin, she doesn’t quite know yet. She’ll take some time to reflect, lick her wounds, and see if she can find a way to weave her passion for empowering women and entrepreneurs into her new life. I wouldn’t bet against her. We here at Tech.Co wish the entire team the absolute best of luck in whatever new venture they tackle next. Image Credit: Digital Royalty Facebook page
