// startup autopsy
#waywire
Cory Booker's youth video platform that couldn't hold the signal.
marketfitAcqui-hire
Fatal mistake: #waywire relied too heavily on its celebrity co-founder's public profile, and when Cory Booker left to run for Senate, the company lost its primary source of attention and credibility.
Key Events Timeline
FOUNDING
#waywire founded by Cory Booker and co-founders to build a youth-focused video curation platform.
FUNDING
Raised $1.75M in seed funding, attracting attention due to co-founder Cory Booker's political profile.
CEO CHANGE
Cory Booker stepped back from day-to-day involvement to launch his U.S. Senate campaign, leaving the company without its key public figurehead.
PIVOT
Team attempted to pivot and refocus the product without Booker's star power driving user acquisition.
SHUTDOWN
#waywire was acquired by Magnify.net in an acqui-hire, ending independent operations of the youth video platform.