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by RickS 3116 days ago
Thoughts on why this happened? I wish they were more forthcoming about the causes. This is the corporate equivalent of ghosting on your tinder date.
4 comments

They ran out of money or realized that they would.
Of course -- but they didn't plan to run out of money. So what didn't go according to plan?
Many companies make a good plan of burning $X per month, with a runway of Y months. This is often a worst case scenario with projections of growth from their roadmap.
I think it's more like breaking up with someone, but not offering to explain why.
Final probably wasn't pushing much volume as a Visa Signature card issuer, with a cut of around ~1% of all transactions on average[1], it would take around 100mil in processed transactions to net 1 million in revenue for Final. Visa may have also kicked them off due to having such low volume.

1 - https://usa.visa.com/dam/VCOM/download/merchants/Visa-USA-In...

Customer support is saying they have been bought.
They would not shut down if they were acquired. But it may be an acquihired, which in that case a shutdown is very common.
> ghosting on your tinder date

What does this mean? Apologies if it's something obvious I should know; I'm not cool anymore so this terminology escapes me. :)

"ghosting" just means ending all interaction without warning. not necessarily in the context of a relationship. one can ghost a job, a friend, or even someone selling things on craigslist.

"He ghosted me after finding out I have kids."

Ghosting can also be situational.

For instance, you can ghost from a bar or party, which is essentially just disappearing without saying goodbye and trying to avoid anyone noticing you leaving. Also called an Irish Goodbye.

FWIW in Spain is a French goodbye
I've heard it as the Irish Goodbye as recently as the monologue of last week's Saturday Night Live with Saorise Ronan!
The phrase refers to when you are in the early stages of a relationship with someone you met online and stop sending any communication to them without notifying them beforehand.

The phrase is probably a bit hyperbolic here.