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Here is the answer -> They have received $35 millions in funding and... the story now looks "familiar". https://www.crunchbase.com/organization/everythingme#/entity

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Wow. How does something like this even get $35m in funding and just burn through that over 5 years, then shutdown because they couldn't monetise?

Were the investors hoping for a Google acquisition?

In Australia I'm struggling to raise $50k for a global product with a clear monetisation and cashflow strategy.

Please do not get caught on that hook. Try to earn that 50k yourself.

Yeah I've given up on seed/accelerator/incubator over here. There's a reason why only the boring cashflow +ve enterprise startups come out of Australia. Just means I need to be juggling various different projects to bootstrap. Currently monetising a separate startup in order to fund the one I actually want to work on.

And, as for the question "how", the answer is " irrational exuberance".

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