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Maison > Nouvelles > Industry News > More money than sense

More money than sense

  • Auteur:Ella Cai
  • Relâchez le:2017-07-10
The wearables segment has taken a hit with the demise of Jawbone which raised $900 million.

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’.