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by revo13
3549 days ago
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Coming from a failed startup myself, there is probably a bit of debt associated with the company at this point. In our final throws of life, we raised additional capital (angel/VC/etc) via convertible note to sustain the business a bit further. This in addition to back rent, unpaid bills, etc, leaves quite a pile of financial liability that any acquiring company would likely assume. Easier to let the company die and hire the staff as a separate operation. |
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