When a Moving Company Tips Off a Busted Tech Company
Busted Tech (An Advisor Tips Off the Press). Oops. Hello, a sleep monitor company with a product called Sense that raised $40mm in funding at a valuation of $300mm is shutting down after failing to consummate a "for parts" sale to Fitbit. Axios broke the story after noticing a moving truck outside of the company's headquarters and observing empty desks through the window from the street. Thats some serious private investigator type sh*t. Apparently the movers worked for Sherwood Partners - and said as much to the Axios folks. Oops. Like Lily Robotics Inc., this is a company that ran a highly successful Kickstarter campaign but wasn't able to parlay that into a sustainable business. Here, apparently, there isn't even any IP that is worth selling through a bankruptcy. Elsewhere in tech, we love when non-lawyers think that they have the solution for legal processes simply because they have experience using lawyers.