File this one under “This SUCKS” news: Roomba, the company behind the famous iRobot vacuum, has officially filed for bankruptcy.
Roomba’s bankruptcy filing isn’t meant to regroup, it’s meant to say goodbye. They are passing off the entire company to Picea Robotics, the company that basically makes the Roomba models for them to sell under the name.
What Caused Roomba to File for Bankruptcy?
According to Reuters, the company first raised concerns about staying in business in March. It filed for Chapter 11 protection in Delaware bankruptcy court as it continues to struggle with increased competition from lower-priced rivals and new U.S. tariffs.
Although the company cleared over $600 million in revenue for 2024, they are still not making any headway against the competition, who have collectively basically knocked off the iRobot design and learned how to make it cheaper.
Under iRobot’s bankruptcy plan, Picea will take 100% of the company’s equity and cancel the $190 million remaining on a 2023 loan, as well as an additional $74 million debt that iRobot owes to Picea under the companies’ manufacturing agreement.
Who Invented the Roomba iRobot?
iRobot was founded in 1990 by three Massachusetts Institute of Technology roboticists.
It initially focused on defense and space work before debuting the Roomba robotic vacuum in 2002.
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Roomba says that existing vacuums will still work with their app like they have been and no interruptions in service will take place as the company transitions into new private ownership.
19 Country Artists Who Just Disappeared
“Who I Am” and “Ode to Billie Joe” are songs we all know the words to — we’ve sung along to them on more than one occasion — they were huge hits! But what ever happened to Jessica Andrews and Bobbie Gentry?
You’ll often find us reminiscing over some of our favorite artists who took a break from music, whether to start a family, solely write songs … or just plain vanish(?!).
Gallery Credit: Billy Dukes
See the Most Played Country Song from the Year You Were Born
Who had the most played country song during the year you were born? This list is a fascinating time capsule of prevalent trends from every decade in American history. Scroll through to find your birth year and then click to listen. Some of these songs have been lost through the years, many of them for good reason!
Gallery Credit: Billy Dukes
