Last week, TechCrunch reported on the dramatic departure of Marcus Weller, the CEO and co-founder of Skully, an augmented reality (AR) helmet maker. The news was a shock to many in the industry, and it has now been confirmed that Skully is no longer operational.
Sources Close to the Company Reveal Shut Down Details
Multiple sources within Skully have come forward to reveal that operations at the company have ceased, and its website will be taken offline soon. Weller has also been asked to sign a confidentiality agreement with investors, but he refused, stating that he had walked away from all dealings with the company 10 days ago.
"I’m shocked and deeply saddened that they would now shut this company down," Weller said in a phone conversation with TechCrunch. "We were raising a Series B to continue raising capital, but then we had a buyer… I’m almost dubious to this."
The AR-1 Helmet: Sold Out, But Pre-Orders Remain Unfulfilled
The Skully website still lists the AR-1 helmet as sold out in every size, with no option for new orders. A source within the company revealed that sales were cut off on Monday, leaving thousands of customers without a product they had pre-ordered.
It’s estimated that these pre-orders are worth hundreds of thousands of dollars, and it’s unclear how Skully plans to fulfill them now that operations have ceased. The lack of communication with customers is also raising concerns about the company’s treatment of its backers.
Intel Capital and Riverwood Venture Partners: Investors in Question
TechCrunch reached out to Intel Capital and Riverwood Venture Partners, both investors in Skully, but received no response. This lack of transparency has led many to speculate that these investors may have pulled their funding or were unaware of the company’s financial struggles.
Skully’s Executive Team Holds Out Hope for a Miracle Turnaround
Despite the grim outlook, some within the leadership are holding out hope that Skully can still turn things around. Marketing VP Carlos Rodriguez told TechCrunch late Tuesday night, "The SKULLY executive team is working diligently on closing a round of funding so that we can continue to fulfill our pre-orders and delight our customers."
However, signs point to no from many who have spoken with TechCrunch close to the company. The lack of communication and transparency has raised questions about Skully’s management and leadership.
A Possible Silver Lining: Miracles Do Happen in Silicon Valley
While it seems unlikely that Skully will recover, the tech industry is full of stories of companies that have turned things around at the last minute. Perhaps a miracle turnaround is possible for Skully, but until then, customers and employees are left to pick up the pieces.
What’s Next for Skully’s Customers and Employees?
As the lights officially go out on Skully, its customers and employees are left wondering what will happen next. Will there be any form of compensation or support for those who invested in the company? Only time will tell.
For now, it seems that Skully has joined the long list of startups that have failed to deliver on their promises. But as we’ve seen before, even in the darkest moments, a glimmer of hope can emerge.
