Ex-Googler had to shut down his London startup after struggling to raise funding

[endswapper]

http://www.businessinsider.com/sup-shuts-down-rich-pleeth-interview-2016-10

[arcanus]

> raised £409,000 in July 2015, seed round investors include JamJar Investments (The Founders of Innocent), The Collective, The Founder of Treatwell/Wahanda, Force Over Mass Capital, Jim Mellon and Pi Capital.

So they burned through $500k in a year and did not have any traction. Not too surprising they had trouble raising more.

[mtmail → arcanus]

It was 1 million USD even. The founder's linkedin page says £650,000 and I used the exchange rate from 2015 because after the Brexit vote the British Pound lost a lot in value.

[cbanek]

Reminds me of the "bro" app from SV. How can it take 8 people to build such a thing?

Most of the failures in startups I seem to hear about are hiring too fast, and having no business model. This one seems to check both.