Yup. Was a big head scratcher around here. They raised $7.8M and shutdown 6 mos later. Rumors are they ever actually closed it, which would make a lot more sense than they burned over $1M/mo.
> A large part of that reported $7.8 million never actually came through. McKellar says that the investor syndicate, led by New Enterprise Associates, stopped funding the company. Faced with the decision of whether to operate on a severely amputated budget or to close down, she opted for the latter
http://betabeat.com/2012/11/what-happened-to-loosecubes-new-...