Jawbone's demise a case of 'death by overfunding' in Silicon Valley
Consumer electronics company Jawbone had more than enough money to take on Fitbit and other health-tracking devices in the "wearables" market. Top-tier venture capital firms Sequoia, Andreessen Horowitz, Khosla Ventures and Kleiner Perkins Caufield & Byers, and then a sovereign wealth fund, invested hundreds of millions of dollars in Jawbone, lifting its valuation to $3.2 billion in 2014. Ultimately, all that money couldn't save San Francisco-based Jawbone, which began liquidating proceedings in June after its fitness-tracker product failed to take off.
