Cries for help from a local tech company seem to have paid off. Last month we reported how Kelowna-based social media platform Mazu was in a financial bind. The company was unable make payroll amid a dispute with a government-funded agency that is supposed to help start-ups thrive.
The funding agency is the Southern Interior Development Investment Trust. Mazu complains that the $50 million fund has actually been blocking their ability to get bridge financing from other lenders. The media blitz seems to have paid off. After the interview with KelownaNow and other media outlets, new avenues of support stepped forward. Assistance from shareholders and financiers has given the company some breathing room. Mazu, which is headed up by founder Janice Taylor is now concentrating on a big event coming up.
Mazu is one of 20 tech companies invited to South By Southwest. It's a massive conglomerate of festivals in Austin, Texas. Mazu is a social media platform where kids can safely interact, and the company said interest is surging.
