I'm a bit confused by the fact that the article doesn't seem to mention what the company was even trying to do. Like they had 1500 people at their peek... what

I'm a bit confused by the fact that the article doesn't seem to mention what the company was even trying to do. Like they had 1500 people at their peek... what were they doing? What was the business model here? Just farm investment and pull out before they notice you dont actually have any idea what to do?