Sleep monitoring startup Hello is seeking a savior
Hello, a sleep monitor maker that raised over $40 million in venture capital, has laid off most of its employees and is seeking a buyer for its remaining assets, Axios has learned. The San Francisco-based company did recently hold what one investor referred to as "fire sale" talks with Fitbit, but no deal was reached.
Winding down: On Monday, Axios found a moving truck outside of the startup's Shotwell Street headquarters, while rows of empty workstations were visible via the storefront-style office windows. One of the few men on site works for Sherwood Partners, a firm known for winding down tech startups, who said that Hello was moving elsewhere in the Bay Area.
Hello founder and CEO James Proud did not return a request for comment on the company's status, nor on why it continues to sell product via both its own website and third parties like Amazon. There are several social media complaints from customers who say they've been unable to receive replies from customer service. [Update: Proud has now confirmed the news via a Medium post]