In 2007, InPhonic filed for reorganization under the U.S. Bankruptcy Code. The company's assets were subsequently sold or liquidated under Chapter 7 and it's stock was delisted by NASDAQ. InPhonic Inc was founded by David A. Steinberg in 1997 and sold wireless services and devices both through its own web sites and through private labeled websites it managed for online retailers. Some of the assets of InPhonic, including its e-commerce operations and its Wirefly.com and Simplexity brands, were purchased by private investors and used to launch a new company named Simplexity in 2008.