[adventured]

I'm always curious what goes into a decision to sell at all in a situation like this.

$336 million raised, sold for $15 million

Is there actually a good reason to bother to do that?

Whatever the case, this is one that'll be referred to with the market bubble of 2012-2014 (along with perhaps Twitter's former $48 billion market cap, Zynga's $15b valuation, the insanity that surrounded Groupon and its $20b valuation, and so on).

[001sky]

No idea about this specific case, but the assumption of liabilities may or may not be involved. There are also some ethical considerations about keeping jobs in a going concern (however minimal), and some PR considerations about liquidation, etc. It wouldn't be out of order for a company with $300MM in funraising to have $15mm in misc. liabilities.

[kevinbluer]

I would speculate that it's to at least salvage something. I read that their recent burn rate was as high as $14m / month and of course they are in no position to raise a further round.

[hw]

Probably pressure from investors who want some money back & board