Updated 1 p.m. Tuesday
Popular employee rewards software company Blueboard abruptly ceased operations this week, KQED has learned.
“Effective immediately, we are ceasing our operations and shutting down our website and applications. We will not be able to deliver any services going forward,” the company wrote in an email to users on Friday.
Founded in San Francisco in 2014, Blueboard offered software for companies to organize rewards and recognize employees with gifts or activities. A message on the company’s now-defunct website simply states, “As of March 12, 2024, Blueboard has ceased its operations. To everyone that supported us over the years, thank you.”
Blueboard raised a seed funding round in 2015 and Series A in 2020, according to Crunchbase. However, financial struggles ultimately toppled the company, which moved its headquarters to San Diego in 2017.
“Blueboard has been working for many months on securing funding to continue our operations, but unfortunately, we were unsuccessful,” the company wrote in its email to users.
It isn’t yet clear whether its users will be able to use rewards banked in the system.
“There are a few parties working toward a resolution,” CEO and co-founder Taylor Smith told KQED.
Blueboard’s creditor shut the company down last week, Smith wrote on Linkedin on Monday. The company is now going through a business liquidation process, he wrote, called an assignment for the benefit of creditors (ABC).