Suitable’s demise is not a typical tale of a struggling equipment startup: Its bankruptcy may be the latest development in a dramatic appropriate saga between its creator, Scott Hassan, and their spouse, Allison Huynh passion.com, that are locked in a on-going, almost five-year divorce or separation proceeding.
Hassan features a history that is storied Silicon Valley. He’s credited with writing section of Google’s original code and spending within the business significantly less than a couple of weeks after it included. He proceeded to offer a contact startup to Yahoo for approximately $432 million in stock in 2002, before founding the robotics pioneer Willow Garage in 2006, which ultimately spun off Suitable, where Hassan was founder and CEO. Huynh is a business owner aswell: She founded a video video gaming business called MyDream Interactive and caused Hassan on an earlier 2012 investment in augmented reality business Magic Leap.
The couple’s relationship fell apart and they began divorce proceedings in 2015 after being married for nearly 15 years. Meanwhile, the robotics startup floundered. Though Edward Snowden, Steph Curry, President Barack Obama, yet others used Suitable’s Beam item to speak with some body remotely, the organization only sold or leased about 7,000 devices and ended up being never ever lucrative, with running losings totalling a lot more than $50 million between 2013 and 2018, in accordance with the bankruptcy statement.
Suitable’s appropriate entanglements began later just last year. In November, Huynh, as a shareholder in Suitable, sued Hassan over a so-called breach of fiduciary responsibility. Read more