I appreciate the vote of confidence and of course we all choose our own definitions of success and failure. As a "venture backed company", the expectation is that we would build a business that will ultimately return 10x the investment. That seems like a lot but the investors also know that many of these ventures will ultimately be worth nothing.

Our goal was to build a large, thriving and sustainable business that profitably served lots of people, and eventually have some kind of exit event for our investors. Similarly we wanted to offer our employees an opportunity to build this business together.

We weren't able to do that and it's not Silicon Valley, but the expectations of the people who made a bet on us either with their money or their hard work that we feel we've let down, even as we know that most startups do not achieve this goal.