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The Business of Winding Down Startups is Booming
Startup wind-down services are seeing rapid growth as failed startups look for help shutting down. Pitchbook: On the phone with a founder who recently wound down his seed-stage software startup, I asked him what his plan was next. Having laid off all of his employees in autumn of last year, he was t...
Having laid off all of his employees in autumn of last year, he was the last man standing: tasked with the thankless job of shutting down the company, returning capital, and dealing with tax documents. To handle the bureaucracy, the founder used Sunset, one of the companies that sprung up last year to respond to the burgeoning industry of failed startups. "We've now had multiple companies that have become customers that have raised tens of millions [in venture funding]," said Dori Yona, co-founder and CEO of SimpleClosure.
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