More money than sense
- Autor:Ella Cai
- Solte em:2017-07-10
The wearables segment has taken a hit with the demise of Jawbone which raised $900 million.
The cream of Silicon Valley’s VCs – Sequoia, Andreessen Horowitz, Khosla Ventures and Kleiner Perkins invested in the company. It also raised $400 million in debt mainly from Blackrock.
In 2014 it raised $147 million which put a valuation on the company of $3.2 billion.
In 2016, the Kuwait Investment Authority invested $165 million in the company which put a valuation on Jawbone of $1.5 billion.
Now it has gone into liquidation. It was a case, it is said, of: ‘Death by Overfunding’.
Jawbone made wearable devices tracking exercise and health data but never got any significant market share – staying below 5%.
The cream of Silicon Valley’s VCs – Sequoia, Andreessen Horowitz, Khosla Ventures and Kleiner Perkins invested in the company. It also raised $400 million in debt mainly from Blackrock.
In 2014 it raised $147 million which put a valuation on the company of $3.2 billion.
In 2016, the Kuwait Investment Authority invested $165 million in the company which put a valuation on Jawbone of $1.5 billion.
Now it has gone into liquidation. It was a case, it is said, of: ‘Death by Overfunding’.
