They're burning VC money, not generating enough income as everyone has told them in no uncertain terms to fuck off putting adverts or other crap in their feed, have found that anonymised aggregated data being sold to cities doesn't fund a pre-IPO lifestyle, don't have anything compelling enough to pay significantly more for, and now they're trying to downsize.
Wouldn't be surprised if they get bought out by someone else in a fire sale in 12-24 months.
They're burning VC money, not generating enough income as everyone has told them in no uncertain terms to fuck off putting adverts or other crap in their feed, have found that anonymised aggregated data being sold to cities doesn't fund a pre-IPO lifestyle, don't have anything compelling enough to pay significantly more for, and now they're trying to downsize.
Wouldn't be surprised if they get bought out by someone else in a fire sale in 12-24 months.