#StarInvestigation: Ford government pledged $2.5 million to Facedrive for bracelets to fight COVID — but employees say the tech "never worked like it should." thestar.com/business/2021/…
It was a small start-up with just seven-figure revenue that was suddenly worth an eye-popping $5.7 billion.
“To put it nicely, it was definitely oversold,” said one former TraceSCAN salesperson. He paused and laughed. “Even by me, to be honest.” thestar.com/business/2021/…
“To put it nicely, it was definitely oversold,” said one former TraceSCAN salesperson. He paused and laughed. “Even by me, to be honest.” thestar.com/business/2021/…
In the eight months since that grant, Facedrive has undergone something of a public collapse.
Its stock, traded on the TSX venture exchange, has fallen more than 98 per cent, from a high of $60/share in February to less than a dollar in late October. thestar.com/business/2021/…
Its stock, traded on the TSX venture exchange, has fallen more than 98 per cent, from a high of $60/share in February to less than a dollar in late October. thestar.com/business/2021/…
Company insiders, meanwhile, including the former and current CEOs, have been selling off their own shares in droves since a series of lockup agreements began to expire this summer. thestar.com/business/2021/…
The device was meant to alert users if they got too close to one another, with a beeping or buzz.
“When they had a trial with us, nothing really worked as they said it should,” said one former TraceSCAN salesperson. “We just stopped using it.” thestar.com/business/2021/…
“When they had a trial with us, nothing really worked as they said it should,” said one former TraceSCAN salesperson. “We just stopped using it.” thestar.com/business/2021/…
How many of those bracelets are in operation is an open question. Facedrive still advertises the Air Canada partnership on its website.
But an airline spokesperson said it stopped using the devices some time ago. thestar.com/business/2021/…
But an airline spokesperson said it stopped using the devices some time ago. thestar.com/business/2021/…
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