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Quirky Files for Bankruptcy, Will Sell Smart-Home Platform

  • Flextronics submitted bid of $15 million for Wink business
  • Company among more than 30 failed startups this year
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Quirky Inc., which helps inventors develop small household products, filed for bankruptcy and plans to sell its assets, including the Wink smart-home business.

Quirky accepted a $15 million offer for Wink from Flextronics International USA Inc. subject to a higher bid, the New York-based startup said Tuesday in a blog post. The company, which filed for Chapter 11 protection to guide the process, plans to conduct an auction if other offers are received and intends to seek court approval to complete the sale within 60 days. Quirky also is seeking a stalking horse, or lead, bidder for other assets and will conduct an auction if it gets offers.