The attitude of not feeling that everything is over

More than a hundred Estonian investors are anxiously awaiting the news that Eerik Oja and Marten Orgna, founders of the startup Planet42, have promised to share this Thursday.

Estonian bond investors had entrusted tens of millions of euros to the men’s business, with all investors totaling 115 million euros, until news of the company’s financial difficulties broke.

If two weeks ago the company had to admit that there were major problems, a year ago its founder and CFO Marten Orgna was confident: the startup was not in danger of liquidation, as the company’s cash flow was strong. “We collect $3 million in rent per month and in our case, there is no sudden need to assemble tablets,” Orgna told Aripöða at the time. He said at the time that Planet42 aimed to be profitable by the end of 2024.

Today, the company’s situation is completely different from what it dreamed of back then.