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Unicorn social app IRL to shut down after admitting 95% of its users were fake (techcrunch.com)

submitted 1 year ago by wave_walnut@kbin.social to c/tech@kbin.social

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An internal investigation by IRL's board of directors found that 95% of the app's reported 20 million users were "automated or from bots."

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[–] vaguerant@kbin.social 22 points 1 year ago (2 children)

The term unicorn refers to a privately held startup company with a value of over $1 billion. It is commonly used in the venture capital industry.

In case that helps anybody else as much as it did me.

[–] Catch42@kbin.social 6 points 1 year ago (1 children)

I already knew what that term means and I still had trouble parsing what the headline was talking about.

[–] density@kbin.social 8 points 1 year ago

I thought it was a mff hookup app

[–] lozunn@kbin.social 4 points 1 year ago

In this particular case, you could say that the real unicorns were the human users.