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Plastc goes bankrupt after raising $9M for all-in-one card - CNET

Plastc folds. Plastc

Plastc, the company behind an effort to create a single card to replace multiple credit and bank cards, has gone belly up without delivering its product.

Plastc raised more than $9 million in pre-order sales, according to a Magnify Money blog. But its 80,000 early backers learned Thursday that the company would shut down immediately, it would file for bankruptcy, and would not fulfill and pre-orders.

"We are disappointed and emotionally distraught, and while we know this is extremely disappointing for you, we want our backers to know that we did everything we could to make Plastc Card a reality," the company said in a statement posted to its website.

Representatives for Plastc couldn't immediately be reached for comment.

The Palo Alto, California-based company was founded in 2012 by Ryan Marquis and Mark Stubbs with the promise of creating a single card that would store information from up to 20 credit and bank cards on a single card. It planned to do...(continued)

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