Modu cancels IPO, braces for layoffs.

"From the brink of an IPO to the brink of mass layoffs, Modu appears to be in deep trouble. The Israel-based company, known for building very tiny, very quirky phones, has turned its back on a recent IPO attempt. According to Israeli financial paper Calalist, there was simply no interest in the company. Instead, CEO Dov Moran said Modu would be forced to let go of most of its staff."

previous coverage:

• Modu Revealed.
• modu and Red Bend Team Up to Enable Consumers to Personalize their Mobile Experience.