July 17, 2018
This is a tale of two startups: One was founded in a garden-level Beacon Hill apartment, the other at various Au Bon Pain and Panera restaurants in the western ’burbs. One had a Harvard Business School pedigree, the other MIT.
Both focused on developing new products for home security and were run by novice CEOs. Both successfully attracted funding from investors.
But one startup was acquired in June in a deal that valued it at $1 billion, and the other no longer exists — the company was dissolved in April, and its former chief executive landed another job in May.
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