NationBuilder’s Jim Gilliam passes away; Grindr president addresses homophobic statement; Faraday Future facing bankruptcy
Electric vehicle manufacturer Faraday and Future Inc. is in deep financial trouble, with only enough cash to last until the end of December, The Verge reports. An arbitrator in Hong Kong ruled Faraday Future’s main investor, Evergrande Corp., still has rights to the startup’s intellectual property and assets, leaving it without any further assets to offer up as collateral for further loans. According to court filings, Faraday Future had only $18 million in cash at the beginning of September.
Downtown-based political organization software firm NationBuilder announced Nov. 30 its Founder and Executive Chairman Jim Gilliam passed away from cancer treatment complications. Gilliam, age 41, learned earlier in the year he had cancer, and despite treatments passed on Nov. 23, Socaltech reports. Gilliam served for eight years as chief executive of NationBuilder, which was founded 2009. NationBuilder said in a statement “the magnitude of this loss is staggering, not just for those of us that knew and loved him, but for the world. Jim's brilliance, ferocity, devotion, and strength inspired people everywhere, and built this company that is his legacy.”
West Hollywood-based gay dating app Grindr is facing backlash as Grindr president Scott Chen posted on his social media that he believes marriage is “holy matrimony between a man and a woman.” The controversial (and ironic) statements were addressed again by Chen on Nov. 30, and CNN Tech reports he walked back his statements, noting on Friday, “I support gay marriage and am proud I work for Grindr.” In August 2018, it was reported Grindr sought to go public, but it is not currently listed on any stock exchange.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Faraday Co-Founder Resigns
- Silicon Beach Report Oct. 8: Faraday Future Weighs Options
- Silicon Beach Report Dec. 4: Faraday Future Faces More Furloughs
- Silicon Beach Report June 26: Two Local Car Startups Raise $2M Each
- Kunlun Group Limited Completes Acquisition of Grindr
- Silicon Beach Report April 3: Snap Discussing Office in Saudi Arabia
- Eyeing Electric
- Silicon Beach Report October 26: Faraday Future Faces Further Financial Troubles