Dec 9, 2019

E-scooter company Unicorn goes bust after spending big on Facebook ads

Electric scooter start-up Unicorn is shutting down after spending too much money on Facebook adverts. The Texas-based company sold just 350 of its $699 commuter scooters, according to The Verge. "A large proportion of the revenue went toward paying for Facebook ads to bring traffic to the site," the email says. Rebecca Buchholtz wrote she was "Heartbroken" after receiving the email as she had ordered her daughter a scooter for Christmas. The company has not posted on Facebook or Instagram since 20 June.

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