Mark Cuban-Backed Startup Sorfeo Files For Bankruptcy: 'Win Some. Lose Some,' Says Billionaire Investor
Sorfeo, launched in 2020, was co-founded by Lewyn and Hal Widlansky. The company's business model involved acquiring established brands and selling them on Amazon. Despite raising at least $1.5 million in seed funding, Sorfeo's financial situation deteriorated, with a significant drop in revenue from $4.3 million in 2022 to $1.99 million in 2023.
Source: benzinga.com