Once Valued at $3.2B, Wearable Company Jawbone Shuts Down, CEO Launches New Startup: Report (axios.com)

Posted by msmash on Friday July 7, 2017 @03:20AM from the back-on-earth dept.

Consumer hardware company Jawbone is being liquidated, according to The Information. From a report: The San Francisco-based company, which once was valued at $3.2 billion by private investors, has hired Sherwood Partners to handle the wind-down process and assume its ongoing litigation with rival FitBit. Jawbone 2.0: Co-founder and CEO Hosain Rahman reportedly has formed a new company, named Jawbone Health Hub, that has hired many of Jawbone's employees and will take over servicing Jawbone's products. BlackRock, which loaned Jawbone $300 million in 2015, has a stake in the new company. No other existing Jawbone investor has a stake in the new startup, with one telling Axios that his firm has been kept in the dark.

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Re:If you don't succeed the first time... by Dunbal · 2017-07-07 04:55 · Score: 3, Insightful

hope to get out and leave someone else hold the bag.

You just described the stock market. And the bond market. And the Federal Reserve...

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