Goldman Sachs-backed Slync is shutting down

Forbes writes:

Slync, the logistics tech startup that ousted its CEO and founder who was subsequently arrested on fraud charges earlier this year, is shutting down.

The San Francisco-based company, once valued at $240 million by investors including Goldman Sachs, is being forced into liquidation after former CEO Chris Kirchner sued the company to pay for his mounting legal bills. In a legal filing this month, the company said it would liquidate “because it maintains insufficient capital to continue to operate due to its financial underperformance and Kirchner’s [alleged] fraud.”

The meltdown comes just months after the company announced that it had raised a $24 million lifeline in funding from Goldman Sachs and other investors. Goldman Sachs declined to comment…

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