Czech Hyperlocal Cafe Project Shut By Investor, Citing Lack Of Return

The investors behind a Czech Republic hyperlocal news project have shut the initiative due to lack of return.

PPF, a central European finance group, spoke to us when it launched Naše Adresa (Our Address) in May 2009, a network of local websites and print weeklies produced by volunteers and all comers from local cafes.

But it “has not complied with the parameters of commercial return on the PPF targets”, the firm tells aktuáln