Smart Lock Maker Otto Flames Out, Before Shipping A Single Lock
San Francisco-based "smart lock" maker Otto said over the holiday that it is shutting down the company--even before it has shipped its first lock. The company, which just launched with a fancy launch video in August, had said it was creating "the world's most advanced digital lock". The startup blamed the shutdown on a public company which it said approached the company about an acquisition but then told the firm that "they would not complete the acquisition nor revisit" an earlier investment proposal.
posted on Tuesday, January 2, 2018
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