They raised a ton of money on a high valuation, spent 25mil to make 1 mil last year and are now scrambling to raise a new crowd sourced round because they don't want to get wiped out in a down round.
This notes thing looks like an attempt to pivot to an advertising based business model and I'm guessing they think they have "influencers" on their platform to bring in a decent audience.
This notes thing looks like an attempt to pivot to an advertising based business model and I'm guessing they think they have "influencers" on their platform to bring in a decent audience.