Gameplay denies Wireplay ultimatum
CEO chats with Reg
Gameplay has denied that it has given its multi-access games service, Wireplay, just three months to turn a profit or face the axe.
Sources close to the company claimed that Wireplay would be scrapped if it didn't make any money by June.
However, CEO, Mark Bernstein, told The Register that this was simply "incorrect".
He also declined to comment on reports that Cisco is to take a 20 per cent stake in the company.
Explaining why the company shed 275 jobs on Friday, Bernstein said: "We are not a typical dotcom.
"Analysts forecast £90 million in revenue for the year. We also have valuable technologies. Given the change in market conditions we are focusing on getting to profitability.
"We are a successful but we are also losing a lot of money. However, Gameplay is not on the way out," he said.
He added that it was unfortunate that the company had to make so many people redundant. ®