Ecomom shutting down following CEO's suicide
The story of Ecomom keeps getting more stunning and more tragic. PandoDaily has learned that the company has just dealt its investors yet another blow. Just two and a half weeks after founder and CEO Jody Sherman stunned the tech community by taking his own life, Ecomom will be shutting down and liquidating all its assets — starting tomorrow.
We’ve spoken to multiple Ecomom investors this evening — and in the weeks since Sherman’s passing — and all expressed continuing shock over the rapid deterioration of the company. Sherman had a history of straight dealing with investors, both with Ecomom and other startups, say many sources. No one seems to be able to wrap his or her head around what happened and everyone is asking the same question: “What happened to all the money?”
Making matters worse: The story keeps changing.
This is a significant loss for the green living industry and consumers already facing limited options when shopping for quality environmentally-friendly products. But besides all of that, it is also a personal tragedy. Our thoughts go out to Sherman's family and friends, as well as everyone at Ecomom.