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I thought the company sold assets to FitBit. I saw a $40m number floating around. While that might be golden handcuffs for employees, I would typically expect t
by pbiggar 10y ago
I thought the company sold assets to FitBit. I saw a $40m number floating around. While that might be golden handcuffs for employees, I would typically expect to see the investors take some cash out of this.
If there was $40m, it's likely the founder got _something_, even if it's just 200k. There has to be financial incentive for him not to burn it to the ground, and the VCs probably don't want to get a founder-unfriendly reputation over a "small" chunk of cash.
- uiri 10y agoPebble's debts exceed $40M. The asset sale was for $34~40M. They're in bankruptcy proceedings: http://www.proofofclaims.com/PebbleTech/documents/ http://www.proofofclaims.com/PebbleTech/documents/ The financial and legal incentive is not going to jail and not being personally liable for any of the company's debts.