Dating application Siren, which empowered ladies, shuts straight down after running away from money

Dating application Siren, which empowered ladies, shuts straight down after running away from money

by Taylor Soper on 5, 2017 at 11:36 am April 7, 2017 at 7:23 am april

Noise the security for women hunting for something apart from conventional relationship apps: Siren is shutting down.

The app that is seattle-based which billed itself as an option to internet sites such as for example Tinder and Match.com with a concentrate on empowering ladies, is shutting its doorways after operating away from cash.

Siren co-founder Susie Lee penned an article Tuesday detailing the reason why for the business’s shutdown. She noted that Blackrun Ventures, which year that is last $225,000 as an element of Siren’s seed round, had never “completed their obligation.”

“Instead, we received tiny, unpredictable amounts, because of the other investors fearlessly stepping forward,” Lee published. “Through the dedication of the committed individuals we were in a https://amor-en-linea.org/ position to carry on development, nonetheless we’re able to never ever prepare beyond a couple of months, hindering development, milestones, and brand new financing possibilities.”

In a meeting with GeekWire, Lee stated that “all closing docs had been finalized, but never finished their dedication.”

“Instead, they issued small, unpredictable tranches, usually with months in between, despite sometimes daily requested updates and repeated assurances,” Lee noted.

Blackrun Ventures, which spent included in its investment that is women-focused arm nevertheless lists Siren on its portfolio web page. We’ve reached away into the company for lots more details and certainly will upgrade this post once we hear right back. Improve: On Friday, Blackrun taken care of immediately GeekWire and offered this statement:

“Blackrun Ventures joined up with a quantity of investors to take part in Siren’s $500,000 seed funding round. Because the lead investor, we committed $225,000, of which 75% ended up being disbursed throughout the last 12 months following conclusion of research. Continue reading Dating application Siren, which empowered ladies, shuts straight down after running away from money