""I've poured my heart and soul into building this company,""
""Making this deal happen - along with the multi-party, complex capital raise I orchestrated - was the hardest thing I've ever done,""
""We all felt good about the positive momentum we were seeing in June when I left, and so to then see that the business has now run into a brick wall, it's just shocking to me.""
Francis Davidson described deep personal investment in building Sonder since 2014 and called securing the Marriott licensing and a complex capital raise his hardest achievement. Davidson left as CEO in June and reported positive momentum at that time. Marriott terminated the licensing agreement citing "Sonder's default," collapsing the partnership that allowed Marriott Bonvoy members to book Sonder stays. The termination forced many guests to leave accommodations with little warning. Sonder announced plans to file for Chapter 7 bankruptcy and to liquidate its U.S. business after operating thousands of apartment-style and boutique short-term rental units.
Read at Business Insider
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