The Clymb: After raising $9M, The Clymb sells for only $100K

A reminder today that startups are risky comes with news that flash sales site The Clymb has been sold for significantly less than it raised from investors, according to the Oregonian. The company, founded in 2009, raised $9 million from investors including Oregon Angel Fund, which co-led a series A round with Walden Venture Capital. According to the Oregonian report, the company was sold for $100,000. The buyer, California-based LeftLane Sports, is also taking $18.5 million in The Clymb's debt...