Unicorn social app IRL to shut down after admitting 95% of its users were fake

Technology@kbin.social – 48 points – 1 years ago

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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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.

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

I thought it was a mff hookup app

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