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San Francisco tech company Forward, once worth $1B, abruptly shuts down (www.sfgate.com)

submitted 5 days ago by cyrano@lemmy.dbzer0.com to c/technology@lemmy.world

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The homepage of the company’s websitecurrently reads a shutdown notice. It says Forward is closing clinics, canceling patients’ scheduled visits and turning off its mobile app. The company wrote, “We know this news is abrupt,” and promised that its medical staff would be reachable by email until Dec. 13. Per Business Insider, Forward also shared the message with customers in a late-night email Tuesday.

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[–] ChaoticEntropy@feddit.uk 15 points 3 days ago* (last edited 3 days ago)

Well, all the initial venture capitalists involved already "got theirs" so there's no reason for it to exist anymore. This isn't a failure, this is the operating model of your average SF tech start up.