Courtesy of Jawbone

Consumer hardware company Jawbone is being liquidated, according to The Information. The San Francisco-based company, which once was valued at $3.2 billion by private investors, has hired Sherwood Partners to handle the wind-down process and assume its ongoing litigation with rival FitBit.

Jawbone 2.0: Co-founder and CEO Hosain Rahman reportedly has formed a new company, named Jawbone Health Hub, that has hired many of Jawbone's employees and will take over servicing Jawbone's products. BlackRock, which loaned Jawbone $300 million in 2015, has a stake in the new company. No other existing Jawbone investor has a stake in the new startup, with one telling Axios that his firm has been kept in the dark.

Growing problems: Over the past couple years, Jawbone has faced many challenges, including lawsuits from FitBit and Flex, layoffs, and struggles to pay its bills. Last year, it sought to sell off its speaker business and sold the remaining inventory of its fitness bands to a third party seller, according to one report.

Backstory: Founded in 1999, Jawbone made its name selling Bluetooth cellphone headsets and hip portable speakers, later shifting to health trackers. It had raised more than $580 million in funding from top investors like Khosla Ventures, Mayfield Fund, Andreessen Horowitz, Sequoia Capital, and Kleiner Perkins.

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Coronavirus dashboard

Illustration: Aïda Amer/Axios

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  4. 2020: Biden calls for 3-month national mask mandateBiden and Harris to receive coronavirus briefings 4 times a week.
  5. States: Georgia Gov. Brian Kemp to drop lawsuit over Atlanta's mask mandate.
  6. Business: Why the CARES Act makes 2020 the best year for companies to lose money.
  7. Public health: Fauci's guidance on pre-vaccine coronavirus treatments Cases are falling, but don't get too comfortable.

Trump says he intends to give RNC speech on White House lawn

President Trump speaking to reporters on South Lawn in July. Photo: Jabin Botsford/The Washington Post via Getty Images

President Trump told the New York Post on Thursday that he plans to deliver his Republican National Convention speech from the White House lawn, despite bipartisan criticism of the optics and legality of the location.

Why it matters: Previous presidents avoided blurring staged campaign-style events — like party conventions — with official business of governing on the White House premises, per Politico.

Fauci's guidance on pre-vaccine coronavirus treatments

Illustration: Aïda Amer/Axios

Antibody drugs and various medicine cocktails against the coronavirus are progressing and may provide some relief before vaccines.

The big picture: Everyone wants to know how and when they can return to "normal" life, as vaccines are not expected to be ready for most Americans for at least a year. Two therapies are known to be helpful, and more could be announced by late September, NIAID Director Anthony Fauci tells Axios.