So "Fast" It Failed

When a company with a name like Fast goes out of business, expect a lot of witticisms in the comments section: “That was…Fast” and “Fast and Furious!” Still, some people empathize with the rise and fall of a $120MM funded startup competing in a space where legacy infrastructure is hard to beat.


 

The company, whose name actually refers to a one-click checkout, failed to convince investors its progress was anywhere near justifying its high burn rate. It was rumored that the company was spending $10MM a month on overhead. Despite inking deals with Jessica Alba’s Honest Company, the company had its fair share of hiccups along the way, with the CEO’s previous failed venture in Australia trailing him to the US.

Meanwhile, Netflix and other companies are reportedly tightening their purse strings amidst the ongoing market correction of both public and private companies.

Who’s next?