How MoviePass Crashed! From Hero to Flop! – a Case Study for Entrepreneurs
MoviePass – this week the Biz Doc unpacks the high flying company that had a huge system outage in July (cards didn’t work!) followed by making headlines in a STOCK CRASH! The news told the horror story about the fate of the bold company. The Biz Doc will explain the history, summarize what just happened and explain why it happened.\n \nWhat MoviePass Says About MoviePass:\nEXACT QUOTE FROM WEBSITE: “MoviePass is a technology company enhancing the moviegoing experience. As the nation’s leading movie-theater subscription service, MoviePass turns casual moviegoers into film enthusiasts by giving subscribers the ability to watch movies where they’re best seen — at the theater — for a low monthly fee.” \n\n\nABOUT TOM ELLSWORTH – THE BIZ-DOC:\n\nTHOMAS N. ELLSWORTH, is an experienced CEO / COO and veteran entrepreneur. He has been disrupting industries and driving consumer shifts through Venture-backed companies in technology, software development, publishing and mobile that have generated exits totaling over $1B. He’s also the host of Case Studies with the Biz Doc and A Beer and Business on the Valuetainment Channel. Connect with the Biz Doc:\n\n- Twitter: https://twitter.com/TomEllsworth\n\n- Facebook: https://www.facebook.com/BizDocTom\n\n- Linkedin: https://www.linkedin.com/in/thomasellsworth\n \n\nSUBSCRIBE TO VALUETAINMENT AND GET SOME VT GEAR:\n\n- Subscribe to the Valuetainment channel on YouTube: http://bit.ly/2aPEwD4\n\n- Visit the official Valuetainment store for gear: https://www.valuetainmentstore.com/
Thousands of MoviePass customers have their personal details leaked
Personal data, as well as credit and debit card numbers of 58 thousand MoviePass customers have become public.
Spidersilk Dubai employee Mossab Hussein discovered an unsecured database that contained 161 million MoviePass transaction records. Of these, 58,000 contained MoviePass customer card data used by subscribers in theaters. Some of the entries contained full credit card numbers and detailed billing information that Tech Crunch believed could be exploited by attackers..
It also reports a log of failed login attempts containing email addresses and customer password information.
It is unknown how long the database has been publicly available. According to experts, the leak occurred several months ago.
MoviePass press service refrains from comment so far.
MoviePass history reminds of a roller coaster. Once in the target audience, the company managed to increase its client base to 2 million people. However, unable to cope with such a volume and feeling financial difficulties, the service had to stop working for a while..
As a result, the number of the company’s clients decreased from 3 million in June 2018 to 225k as of April 2019 of the year.