The Wall Street Journal reports:
The Texas startup that sought to build a conservative banking alternative is shutting down. GloriFi has laid off most of its employees and told them that it is closing up shop, according to people familiar with the matter and emails to employees reviewed by The Wall Street Journal.
The company’s fate became clear on Friday, when funding that it hoped would carry it through the first quarter fell through, Cathy Landtroop, the company’s chief marketing and communications officer, said in an email to employees.
The “financial challenges related to startup mistakes, the failing economy, reputational attacks, and multiple negative stories took their toll,” Ms. Landtroop wrote in the email.
Read the full article. They’ve deleted their Twitter account. A recent post thanked Candace Owens for “driving thousands to GloriFi.” The former CEO, who resigned last month, was a star speaker at CPAC Texas earlier this year.
What’s the expression, “Go Anti-Woke, Go… https://t.co/hZRe9Oaeqj
— Franklin Leonard (@franklinleonard) November 21, 2022
A recent Journal investigation examined GloriFi’s rocky finances and CEO Toby Neugebauer’s behavior, including allegations of on-the-job drinking and tirades. https://t.co/Npq5pk38ce
— The Daily Beast (@thedailybeast) October 18, 2022