Events Start-Up Company, Pollen, Close To Collapse

The events start-up Pollen appears to be involved in several controversial events that have put the company in jeopardy. The most recent of which was Drumcode Malta which released a scathing statement against Pollen and their mishandling of the event that is now cancelled.

Employees and Refunds

First up is an allegation that employees did not receive intended pay amid missing refunds to ticket holders. Pollen already laid off a third of its workforce this past May. This follows a $150 million Series C funding round and the Head of Partnerships Zeon Richards who stepped down due to ethics concerns.

One employee claimed “Employees are very, very angry because while they are not paid, the co-founder brothers’ used tons of company money on lavish stuff like private jets for business travel. Some speculate that the CEO’s 30th birthday where all company employees were invited was also paid by company money.”

Yet customers received refunds for events that were never formally canceled, like Seventeen x Vegas. This set off a string of requests from customers asking for refunds from events in Barcelona, Budapest, and many other concerts.

Potential Collapse

Then is the word that after the $150 million funding round, the company may still collapse despite being backed by the UK government’s Future Fund. There is talk that the company could crash into administration as soon as Wednesday. Sky News revealed last month that Pollen had reached out to the financial investment firm Goldman Sachs in an effort to find a buyer for the company, indicating trouble ahead.

Drumcode Malta Cancels

Lastly, Drumcode Malta wrote an Instagram post stating their lack of confidence in Pollen to provide venues, ticketing, and accommodations.

Drumcode states they have received no payment from Pollen or their customers. They claim that Pollen’s customer and venue safety as well as financial management will not allow Drumcode Malta to take place, to much disappointment. The event was set to take place in just five weeks on September 15-19, 2022.

This could spell trouble for music event promoters that have partnered with Pollen in the past such as Live Nation and Electric Zoo. Pollen also works with upmarket hotel operators, restaurants, and nightclubs to provide packages for events.

Read the full Drumcode Malta statement on their Instagram or below.

 

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A post shared by Drumcode Festival (@drumcodefestival)

Featured image from Drumcode

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