July 7, 2017 04:00 pm
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/Qj1V1cVULDA/once-valued-at-32b-wearable-company-jawbone-shuts-down-ceo-launches-new-startup-report
Once Valued at $3.2B, Wearable Company Jawbone Shuts Down, CEO Launches New Startup: Report
Consumer hardware company Jawbone is being liquidated, according to The Information. From a report: The San Francisco-based company, which once was valued at $3.2 billion by private investors, has hired Sherwood Partners to handle the wind-down process and assume its ongoing litigation with rival FitBit. Jawbone 2.0: Co-founder and CEO Hosain Rahman reportedly has formed a new company, named Jawbone Health Hub, that has hired many of Jawbone's employees and will take over servicing Jawbone's products. BlackRock, which loaned Jawbone $300 million in 2015, has a stake in the new company. No other existing Jawbone investor has a stake in the new startup, with one telling Axios that his firm has been kept in the dark.Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/Qj1V1cVULDA/once-valued-at-32b-wearable-company-jawbone-shuts-down-ceo-launches-new-startup-report
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