Fast shuts doors after slow growth, high burn precluded fundraising options

This is the company that made $600K revenue with 500 employees while their CEO was sharing sky jumps videos on Twitter and trying to be a "thought leader". Next one in this space that is questionable is Bolt which has a similar influencer CEO who's active on Twitter.

I heard about this company on an NPR podcast, and the mission sounded pretty cool and the founder talked about interesting customer experience points, but then I never saw Fast ever being used in practice. I think I read somewhere they only had like $600k in revenue despite raising >$100m.

I wonder what was happening on their sales side… were businesses just really not interested? Was the product out of touch with business reality?

> Fast posted a paltry six-figure revenue total in 2021, despite raising a $102 million Series B led by Stripe.

> The company’s burn rate was said to be as high as $10 million per month

Hopefully the SEC is investigating both Fast and Stripe and their VC investors, is YCombinator included?

Why anyone would invest in such poorly managed company? sounds fishy AF

Fast and Bolt are tried to sell one-click checkout as a service after the Amazon patent on this expired. They both seem to hire and raise a lot with very little market sure or even sense of how they will be profitable.

It's interesting to me that Stripe funded Fast because Stripe has built their own one click checkout solution.