What Company Loses Money the Best?


the-100-million-app-secret-shut-down

A look at some of the big tech companies, the amount of money they lose and their profitability prospects, if any.

Secret

Why They (Were) Losing Money: The anonymous social media app (remember that craze?) earned a flurry of breathless coverage in early 2014, but never had a significant revenue source.

Most Outlandish Expenditure: While Secret was still hot, co-founder David Byttow sold some of his shares for $3 million and bought a Ferrari. Sure, that makes it a personal expense, but still. Very classy.

Profitability Prospects: Zero. The app shut down 15 months after it launched, and the founders promised to return the venture funding to investors. What was left of it post-Ferrari, anyway.

The complete article

Victor Luckerson — The Ringer

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