Wednesday, November 1, 2017

Foundry's Borrowed & Blue Shuttered After Financial Improprieties Discovered

Borrowed & Blue, a wedding planning startup which was backed by Foundry Ventures--and which had an office in Boulder--has been abruptly shuttered, after financial improprieties discovered by the company's board. According to reports, one of the co-founders of the startup--based in Charlottesville, Virginia--was found to have put "significant" personal charges on a business credit card, including "large personal purchases". A local, Charlottesvile television station said the company's baord made the decision to return funding to the company's investors, and close the company, which employed nearly 30.