I think it is safe to say that the IPO was a total scam. The company was never profitable, and numbers never made any sense.

I have a bridge in Brooklyn up for grabs (cheap) if you still think the valuation was based on ridiculous data points such as active users, etc.

People already lined their pockets up and you will be reading another P.R piece on how great of a businessman Evan is within the next couple of months.

Spend all of the funding on aggressive marketing to get the numbers up pre-IPO, file for an IPO and cash out. Rinse & repeat.