Yvsw CNN shuts down Casey Neistat s Beme, but some of its digital news tech will live on
Recorded on May
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Lorne sold his last company, Miyowa, for $59 million two years ago. Afterwards, he said he made a mistake that common among entrepreneurs when they have a successful sale. He wanted to go big right away with his next project, so he hired a large team of developers, setting up a company with a significant burn rate.This turned into a big issue when, after a year of development, Let launched last November. It was, coincidentally, a week
stanley cup before Lorne ran the New York marathon . Lorne said the app was aimed at teenagers, but he quickly discovered that wasn ;t the audience it was reaching.At the same time, the company was about to take on $1.5 million in seed funding from outside investors. The way Lorne saw it, he and his co-founder
stanley cups s had three options. One, they could take the money and hope for the best, but there was a big risk that they ;d end up burning their bridges. Two, they could continu
stanley cups e to recalibrate while funding the project themselves. Three, they could shut
