"It rode the hype to massive funding, which allowed the two founders, David Byttow and Bader-Wechseler to each take $3 million off the table. They essentially traded stock for cash, putting money in their pockets though the business wasn’t earning any."

Wow. I guess their round was oversubscribed so they were able to sell this to the vcs. This is the first case where I heard of where a startup failed recently after founders took significant money off the table. I wonder if vcs will be able to use this as an argument to combat founders wanting to do the same in the future.

I have mixed feelings about the whole affair but I have to hand it to the founders. That was really smart of them to take life changing money when they could.