IronNet Sinks!

IronNet Sinks and People Are Surprised ...

Matt Konda Matt Konda @mkonda

With a name like IronNet, you might think people would expect your company to sink. Iron sinks in water, right?

But IronNet launched in 2018 with nearly $80M in funding and with former NSA director General Keith Alexander at the helm - to great fanfare and with great expectations.

Despite raising a reported $400M, and having what would appear to be a direct line to core government agencies, IronNet was not able to produce a stable business in the cybersecurity space.

Not only that, stockholders got left holding the bag.

“The Company expects that no distributions would be available for stockholders in a Chapter 7 liquidation.”

For more on IronNet Bankcruptcy.

We wonder if the company had perhaps been called StyroNet if it would still be afloat … if lost at sea.