According to Fortune's oft-cited research, nine out of ten startups fail, and now WorkFone is one of them. We entered bankruptcy proceedings today, ending a several months-long struggle to shut down the company. Given the sensitivities of our customers and their operations, we will not release a public post-mortem, but we can say that the biggest contributing factor was complexity. I thought we had minimized it. I was wildly wrong.
Rather than focusing on what went wrong, let me thank all our customers, employees, investors, advisors, and other partners who tried to help make us a success. So many of you went out of your way to help us, providing feedback on pre-MVP releases, connecting us to potential customers, and helping us with technical challenges.
To our customers, thank you for opening up your operations and sharing your problems with us. You were the reason for our existence as a company and defined our mission - protecting those who keep us safe. We remain in awe of your impact, day after day, against incredible odds in incredibly complex environments. Thank you.
To our employees and contractors, it was a privilege to work with each of you. You brought so many skills to bear against such a complex challenge, and I'm eternally grateful for the late nights you spent getting things done (and for stifling your laughter when I truncated the production database).
To our investors, you took a chance on us as a team, and for that I thank you. I hope the lessons we'll share in our private post-mortem will help us all be more successful in the future.
Even to our competitors - thank you for innovating and attacking the same problem. While we always wanted to win, it's good to know that someone else continues out there, supporting the operations and departments that matter.
Thank you all for supporting us and believing in us. We're not sure what's next, but we know it's going to be exciting.