Comment by Swankivo

Hundreds of SaaS companies disappeared in Korea too. They don't even make the news. The examples that do come up now and then, Wrtn, Liner, Qanda, those are the ones that survived, so the press writes them down. A friend's company took a huge valuation cut and ran a round on very bad terms. In the end an existing investor re-upped one last time and that was the lifeline. It's not that the strong survive, it's a market where whoever survives is strong.