Phorm phucked?

I have written about Phorm before.

Seems that their business model, which depends on them converting 60% of their users to their opt in service, is going to struggle with BT’s unsurprising announcement that it has no immediate plans to roll out it’s service.

There is something about this business that makes me think that the management are being massively overoptimistic, orr it is not being entirely straight with investors, or perhaps the investors are just too greedy, (or some other explanation – or perhaps it actually exists in a wormhole in time when people could raise huge amounts of money for ideas that had yet to be proven).

Hats off I suppose for bucking the general market trend where even well run businesses with established revenues and visbility on profits are finding it hard to get cash. Let the good times roll.

Does anyone know how much money the founders have taken out of this business?