There’s no shortage of catastrophic flame-outs in tech. Take, for example, junk science blood-testing startup Theranos, which raised obscene amounts of venture capital only to be sued by its own investors, close its labs, and come under criminal investigation. (Move fast and break stuff, right?) But what could have led to the downfall of humble chat app Fling?
As Business Insider’s Sam Shead reports, Fling began its life as Unii—a social network for college kids similar to the earliest versions of Facebook, only built in 2012 instead of 2004. From there, a flash of insight spurred CEO Marco Nardone to pivot to a new design that has been described as similar to Chatroullete. But despite its best efforts (and $21 million from investors), the company just couldn’t hack it in the highly-competitive tech industry. Here’s what every aspiring startup can learn from the life and death of Fling:
1. Lead By Example
Startup life can be grueling, and big projects for developers often result in sleepless nights until they ship. Show the team you’re just as committed, if not more so.
For 19 straight days, Fling’s team worked all hours of the day and night trying to build a new version of the app that met Apple’s guidelines. Nardone wanted to put up tents in the office so that staff could work longer hours […] As the engineers worked on the problem, Nardone went to Ibiza [and] stayed in a suite at the Ushuaïa beach hotel, which is one of Ibiza’s premier hotels, complete with an open-air club.
2. Avoid Needless Human Resources Violations
Small staffs and smaller working spaces are a hallmark of most scrappy tech companies. Mutual respect goes a long way to keeping everyone feeling happy and safe.
Nardone kicked other male users off the platform who posted inappropriate photos of themselves on the app. “They couldn’t even have a photograph with their shirt off,” said a former employee. “Unless it was him. He would then boost himself to everybody on the [Fling] database.” […] Nardone would regularly walk around the office with his shirt off […] and had a topless portrait of himself stuck to the ceiling.
3. Stay Calm Under Pressure
Every business experiences setbacks, some more dramatic than others. Keep a cool head and your employees will too.
Nardone shouted and swore at [COO Emerson] Osmond before squaring up to him as if he was about to do something more […] He swore at his father before hurling a Pret a Manger baguette in his direction. It narrowly missed and collided with a glass window above his head.
4. Always Communicate Clearly and Openly
At the end of the day you have the last word—that’s why you’re the boss! It’s still important to morale for your employees to feel heard and informed.
[Nardone] took it upon himself to set it live in the App Store in July without consulting other people in the company […] considerable sums of money had been spent on social media marketing campaigns in order to get these users […] Fling’s tech team wasn’t anticipating the initial strain on the company’s servers and Fling’s infrastructure buckled.
5. Pay Your People What They’re Worth
Make sure your salaries reflect the value each member of the team contributes. To ensure this, pay cuts are commonplace in startups, especially for upper management.
Adding to the company’s overhead, there were at least three staff members at the startup who were on salaries in excess of £100,000 […] Nardone himself paid himself over £204,000.
6. Stay Lean
A development cycle is like a startup’s heart rate. If you want to succeed, don’t let anyone tell you it’s dangerously high.
Staff said that Nardone lost a lot of weight during the lifetime of Fling but they couldn’t understand why. Another said that his mood became increasingly erratic around the summer of 2015, around the time he went to Ibiza.
What could have gone wrong for Fling? We may never know what there is to be learned from this catastrophic fall from grace, except that sometimes your best just isn’t good enough.
The beating heart of any business is a reliable and continuous stream of sales. And artificial intelligence is already having a dramatic effect on the bottom line of businesses around the world.
Without a doubt, one of the most effective — and proven — ways to drive sales is to consistently present your prospects and customers with recommendations that are precisely personalized for them.
A task that A.I. is uniquely equipped to excel at.
According to a 2015 study across 1.5 billion ecommerce shopping sessions and 20 different types of recommendations, 11.5% of total revenue was directly attributed to those personalized recommendations.
In fact, A.I.-powered recommendation engines have propelled industry giants like Amazon, Netflix and SoundCloud to the top of their class.
So let’s dive into what it takes to build one of these recommendation engines — for your business.
This guide will step you through configuring an application (originally developed by Martin Kearn of Microsoft) that uses a prediction API to intelligently recommend products — books, specifically.
Looking for an on ramp?
This is a how-to guide intended for developers or tech-savvy business leaders looking for a proven entry point into A.I.-powered business systems.
The End Result
When we’re done, you’ll have a web application that displays all the item-to-item recommendations and frequently bought together recommendations for a given book.
A simple example that highlights two of the most powerful recommendation types.
How can you apply these recommendations to your products and services?
And sign in with the Cognitive Services key you copied above.
Once you’re logged in, enter a name for your project. e.g. Books Then hit the “Add Project” button
When the new project is ready, you should see a place to upload a catalog file and usage files.
We’ll start by uploading the catalog file (book_catalog.csv), which is in the data directory of the source code you downloaded in What You’ll Need.
Our catalog for this demo is a list of books and their respective details. If you’d like to preview what’s in the catalog, here’s a sample spreadsheet of it.
Once your catalog file is uploaded and processed, it’s time to upload the usage data (books_usage.csv), which is also in the data directory.
In this particular case, the usage data is basically a list of books sales — listing which books were purchased together. If you’d like to preview what’s in the usage data, here’s a sample spreadsheet of it.
Get the model identifier.
We’re going to need the Model ID, so copy it from the model details page.
And that’s it for the training data, so let’s start creating targeted builds.
Step 3: Create the ‘Item-to-Item Recommendations’ Build
The first build we’ll create is for related book recommendations.
More specifically, we’re creating an item-to-item recommendations (I2I) build. Which, given an item or a list of items, it will predict other items that are likely to be of high interest to customers that have interacted with the original set of items.
Click on the “New Build” button to create the build.
This will bring up a settings modal.
And for this build select “Recommendation” for the Build Type and then enter a quick description.
Get the build identifier.
We’re going to need the Build ID for this build, so copy it from the dashboard when ready.
That’s it for this build.
Step 4: Create the ‘Frequently Bought With’ Build
The next build we’ll create is for books that are frequently purchased with another book.
A frequently-bought-together (fbt) build counts the number of times two or three different products are purchased together, and then sorts the sets based on similarity.
Click on “New Build.”
This will bring up another settings modal.
And for this build select “FBT” for the Build Type and then enter a quick description.
Get the build identifier.
We’re going to need the Build ID for this build as well, so copy it from the dashboard when ready.
That’s it for this build as well, so let’s fire up the app.
Step 5: Launch it!
Open up the application in Visual Studio — it’s in the ms directory of the source code you downloaded in What You’ll Need.
Then open up the appsettings.json file and enter your respective details:
RecommendationsApiBaseUrl — Make sure the correct Endpoint is listed for your chosen API location from step #1 (it’s listed on the Overview tab)
RecommendationsApiKey — Enter the Cognitive Services API key you copied in step #1
RecommendationsApiModelId — Enter the Model ID you copied in step #2
RecommendationsApiITIBuildId — Enter the Build ID you copied in step #3
RecommendationsApiFBTBuildId — Enter the Build ID you copied in step #4
And then launch the application in IIS Express or your preferred development web server — it may take a few minutes to spin up and display the web page.
Congratulations — you are a recommendations pro!
Click on a book to see the recommendations. Keep in mind this is all sample data — so no guarantees on the relevancy of recommendations.
Play around with the app and API. Have fun!
Now, what will you do will this new tool?
Will you build a new product, enhance an existing one — or startup a completely new business? The sky’s the limit.
London-based social media app Fling burned through $21
million in less than three years.
Fling never brought in any revenue.
The founder splashed out on 1st class flights, Ibiza
hotels, and Michelin-star restaurants.
The app struggled after Apple pulled it from the App
Store last summer for becoming too sexually explicit.
In early July 2015, temperatures were rising in the boardroom on
the top floor of a 12-storey office block in Hammersmith, West
Marco Nardone, the 28-year-old CEO and founder of social media
app Fling, had called an emergency meeting the day after his app was removed from the App Store by Apple
for being too similar to the notorious Chatroulette platform.
The atmosphere was tense and Nardone was furious, three former
employees said, because his COO, Emerson Osmond, had gone behind
his back. Specifically, he was angry because Osmond had told
Nardone’s assistant, Kris Gillet, not to order tents for the
office that would allow staff to sleep by their desks and work
around the clock to get Fling back onto the App Store, a former
employee told Business Insider.
Nardone shouted and swore at Osmond before squaring up to him as
if he was about to do something more, said two former employees.
At this point, Nardone’s Italian father, Remo Nardone — a
man in his eighties and Fling’s biggest investor — stepped in to
try and cool the situation down, one of the employees said. But
his son didn’t react well. He swore at his father before hurling
a Pret a Manger baguette in his direction. It narrowly missed and
collided with a glass window above his head. The event was
described to Business Insider by four former employees.
In the lead-up to the incident, Fling — a social media app that
raised $21 million (£17 million) from investors — had become
inundated with explicit photos. Built by a London startup called
Unii, Fling allowed people to send photos and videos to strangers
around the world. The random recipients could then chat and reply
to the sender. The app also showed “Flingers” a map of where
their Flings had landed.
At its peak, Fling claimed to have 4 million users on its app,
who sent a total of 50 billion messages. However, the
revenue-free company burnt through the last of its millions in
August 2015, according to documents produced by bankruptcy
The app — built by up to 50 staff and backed by a network of
wealthy individuals from the UK, Italy, and Asia — struggled to
retain users. Mismanagement at the top of the company was a major
issue, according to nine former employees that Business Insider
has spoken to over the last three months.
Several of them said they believed Nardone’s behaviour changed
significantly during Fling’s lifetime, while others told stories
of mysterious girls around the office and wild party weekends.
But more on that later.
Nardone told Business Insider he refutes what his former
colleagues have told us, but he declined to comment further.
Fling started out as a social network for students
In 2012, Nardone set out to build a social network for students
called Unii from an office on Berkeley Street in London. That’s
the Berkeley Street that adjoins the legendary Berkeley Square in
Mayfair, where a nightingale
once sang for Vera Lynn. It’s the capital’s most expensive
The 28-year-old only child — who attended the £37,000-a-year
Charterhouse boarding school before studying physics at Imperial
College London — worked as a trader for Credit Suisse for a year
before becoming a technology entrepreneur. His father is the
multimillionaire founder of Enotria Winecellars, a successful
wine business that distributes wine and spirits to bars and
restaurants around the UK. “Marco felt pressure to live up to his
father,” said a former Fling employee. In person, Nardone was
hyper, ambitious, and volatile, our sources said. He had the
ability to charm investors and would-be employees, but several
former staff said they ended up scared of him, citing his
unpredictable moods and confrontational approach as major issues.
Describing the concept behind Unii to Tech City News
on a speedboat in the River Thames in October 2014, which is
where Tech City News got entrepreneurs to pitch their ideas,
Nardone said: “Unii.com is a social network made exclusively for
students in UK higher education and it allows students to better
engage with individuals and societies at their university or
college.” The platform included a jobs board, opinion polling,
accommodation matching, society pages, and student offers.
Nardone secured approximately £1.5 million from his father to
help him build and launch Unii.com, according to a former
employee, who added that he went on to receive a total of around
£5 million from his father for Unii.com and Fling.
Things started off relatively well at Unii.com. “The culture of
the company was great, the team was a good mix,” an ex-employee
said. “However, from the top, it was built to feel like a
university startup built out of a dorm room. I think it envied
what Facebook had become, and wanted to emulate what they had
Unii.com attracted 100,000 UK students within six months of going
live, according to Nardone. But the entrepreneur said he
had a flash of inspiration for Fling while on a flight to Hong
Kong in January 2014, which ultimately led to the demise of the
“While I was staring at the flightpath map on my seat screen I
had one of those insane moments where my fingers couldn’t type my
idea fast enough on Notes,” he
told TechCrunch. “What if we shook up the messaging
structure? What if you could ‘fling’ a private message out to the
world, and literally see it fly and land all over a world map –
much like the one I was looking at on my British Airways seat
screen. By the time we landed I had already prototyped the
designs for Fling.”
Marco Nardone in London in
October 2014. YouTube/Tech City
When Nardone returned to London, he pulled his engineers off the
original Unii idea. He assigned them to build the Fling app and
moved them into a new, top-floor office in Hammersmith — far from
Mayfair — that had the ability to accommodate more staff. The new
HQ was roughly 15 minutes walk from his riverside penthouse apartment at Distillery
Fling was built in less than four months between March and July
2014. When Nardone felt it was ready, he took it upon himself to
set it live in the App Store in July without consulting other
people in the company. “Marco made decisions completely on his
own to the point where the tech team didn’t know what he was
doing,” a former employee said.
Fling was getting ‘a thousand users every 10 minutes’
Almost immediately after the launch there were thousands of
people signing up to Fling on a daily basis, according to a
former employee. “I remember seeing the signups just going up,
and up, and up, and up, for the app,” they said.
“We were pretty chuffed because we were being told ‘this is all
organic’ or ‘I’ve only spent a few hundred pounds on a few
Facebook ads’ and the numbers were shooting up like a thousand
[users] every 10 minutes.” It later turned out that considerable
sums of money had been spent on social media marketing campaigns
in order to get these users, according to three former employees
and documents submitted to Companies House.
Fling’s tech team wasn’t anticipating the initial strain on the
company’s servers and Fling’s infrastructure buckled.
“Our tech guys had no clue what was going on so things started to
fall over and Marco started to show his true colours and lose his
rag on a regular basis with the tech teams,” said a former
employee. “He’d shout and scream and throw things across the
office.” These claims were supported by four ex-employees.
“The ego took over,” said the same employee. “The perceived
success took over. He was likening himself to Evan Spiegel, the
Snapchat guy, and all this bullshit.” Another employee said
Nardone used to compare himself to Elon Musk.
Apple banned Fling after nudity became a big issue
A photo that Marco Nardone
uploaded onto Fling. Anonymous
Insufficient computing resources weren’t Fling’s only problem.
Within weeks of launching, people were using the app to send nude
photos and sexual material to strangers.
In an early review of the app in July 2014, TechCrunch’s
Natasha Lomas wrote: “The most obvious use-case — beyond shiggles
[shits and giggles] — appears to be as a virtual hook-up app to
find remote sexting buddies to photo-message to one-on-one.”
Lomas later updated her story to say: “Well that didn’t take
long; the first five replies to my inaugural Fling included one
picture of a penis. Don’t say you weren’t warned.”
In September 2014, three months after the app was released, a
moderation team was hired in the Philippines to vet photos on the
platform. There were about 10 people moderating Fling content at
any one time, according to a former employee, who said Fling was
paying the moderators about $20,000 (£16,000) a month in total.
Nardone kicked other male users off the platform who posted
inappropriate photos of themselves on the app.
“They couldn’t even have a photograph with their shirt off,” said
a former employee. “Unless it was him. He would then boost
himself to everybody on the [Fling] database.” Nardone would
regularly walk around the office with his shirt off, according to
multiple former employees, and had a topless portrait of himself
stuck to the ceiling.
As Nardone clamped down on male nudity, he allowed female users
to “pretty much do what they wanted and actively encouraged it as
well by boosting pretty girls and stuff like that,” said a former
employee. “Guys were getting booted off the app as soon as they
approached it while girls were getting absolutely trolled as soon
as they were on it. It was just a spiral.”
Fling would be such a good app if it weren’t for the dick pics.
Apple emailed Fling to
tell the company what it didn’t like about the
app. Anonymous ex-Fling
“It was the worst day of my life,” Nardone told Business Insider’s Matt
Weinberger at the time, referring to the day he found out his
app had been pulled from the App Store. The removal took Nardone
by surprise. He found out while having an unrelated a
conversation with a would-be venture capital investor. As he
reached for the investor’s phone to show him how to download the
app, one of his executives stopped him, muttering “no, no, no.”
As Weinberger wrote at the time, “a perplexed Nardone made it
through the conversation. But when he asked the employee what had
him so agitated, he got the worst news that an app startup can
get: It had been removed from Apple’s App Store.”
On the day, Nardone asked staff to work late so they could
address the issue. The CEO turned up in the middle of the night
with two women that staff had never seen before and took them
into a room, according to three former employees.
Commenting on the evening, one employee said: “He came into the
office around midnight, with two girls I’d never met before in my
life. He proceeded to be in the social space, which we had as a
chill-out room. It had a big company sofa and [fake] grass on the
floor, big screens, all that sort of stuff. And he basically
frolicked, for want of a better word, with these girls in that
room, sending out Flings of the two girls kissing.”
Fling app. Fling
Unsurprisingly, Fling’s employees were not able to fix the
problems with the app in one night.
For 19 straight days, Fling’s team worked all hours of the day
and night trying to build a new version of the app that met
Nardone wanted to put up tents in the office so that staff could
work longer hours. When Fling’s COO told him that this might be a
violation of UK employment law, there was a heated debate in a
boardroom that ended up with a baguette being thrown at Nardone’s
As the engineers worked on the problem, Nardone went to Ibiza
with two other members of staff, according to multiple sources
and Instagram posts like this one. While in Ibiza, Nardone and his staff
stayed in a suite at the Ushuaïa
beach hotel, which is one of Ibiza’s premier hotels, complete
with an open-air club.
One former employee said the trip was to a “supposedly quiet
beach to have a relaxed weekend so they could think about stuff.”
But while in Ibiza, Nardone took them partying.
The ex-employee added: “[It was] full on, full-scale, Avicii
partying, which is well documented,” the source said, referring
to a concert they attended featuring the Swedish DJ.
Referring to the time, an ex-employee said: “We were slogging our
guts off. So that left a really bitter taste in the mouth of
pretty much everybody, so he started to lose people at that
point. Understandably so.”
Marco Nardone went to
Ibiza as his team battled to get Fling back on the App
Nardone’s behaviour took a turn for the worse when he returned,
according to three former employees.
Fling COO Emerson Osmond left in August 2015 and several others
followed suit. “The entire marketing team resigned en masse,”
said one of the former employees. “About 10 people. That was
September 2015 onwards. They all quit, and they actually weren’t
that often at the brunt of his wrath. They just didn’t want to be
From then on, Fling really struggled to retain users, with most
people downloading the app onto their phone for around 30 days
before deleting it, according to one employee.
Money was spent on first-class flights, extravagant parties, a
tour bus, and Michelin star meals
Marco Nardone pictured
with colleagues in Ibiza. Instagram/Marco Nardone
Despite the internal problems, Fling raised millions of pounds,
with Nardone’s LinkedIn profile stating that the figure totalled
$21 million (£17 million) over its lifetime. Two former Fling
employees said around £5 million of that came from Nardone’s
Ex-Goldman Sachs employee
Rafaela Costa introduced Marco Nardone to a series of
“He [Nardone] was pouring money in at the top of this thing and
one of the former employees. “He was pumping tens of thousands of
pounds a day through Facebook advertising and Twitter and
what-have-you without telling anyone that he was doing it.”
The rest of Fling’s funding came from a syndicate of investors
that was largely assembled by ex-Goldman Sachs banker turned
hedge fund manager Raffaele Costa, according to three former
Costa, who did not reply to Business Insider’s request for
comment, owns a54-metre mega-yacht, according to Boat
magazine, worth $25 million (£20 million). The Italian
multimillionaire, who is the CEO and founder of Savile
Row hedge fund Tyndaris, refers to himself as “Captain
Magic,” according to a Financial Times article from February 2013.
He met Nardone in the summer of 2013, according to a former Fling
The same former Fling employee said: “This guy [Costa], he
delivered. He could raise money dead easy. He had an amazing
network of very, very high net worths from all of the world,
including many Italians. They were pumping in money [to Fling]
basically on his say-so and Marco’s enthusiasm. We basically
seemed to be constantly raising money and that’s mainly because
Marco was constantly burning money.”
Nardone wasn’t afraid to spend big, either. Meals at exclusive
London restaurants like Nobu, Aqua, and Hakkasan were paid for by
Nardone on the company account, according to two former
employees, as were business class and first class flights.
“He had no concept of the value of money,” said one ex-employee.
“Literally none. He used to think he was lean. He used to tell us
we were a lean startup yet we had top floor offices in
Hammersmith with strip lighting down the ceiling which the
developers hated because it reflected on their screens.”
Fling had neon lights in
the officers that developers loathed because they used to reflect
on their screens. YouTube/Marco
Nardone didn’t hold back when it came to marketing either, both
online and offline.
One employee said there were “two tours in the USA, including a
full-on fucking bus completely decked out in Fling colours.” The
bus cost tens of thousands of pounds, according to the employee,
who added that it was once used by musician Lenny Kravitz.
Nardone and the Fling campus tour bus. Fling
A photo from a Fling bus
party that was posted on Marco Nardone’s Instagram
“He [Nardone] controlled everything financially,” said the former
employee, adding that there was no chief financial officer (CFO)
or accountant. “It was a black hole. No one had sight of what was
in the accounts. He would just spend how he felt like he was
going to spend. He had no idea what a budget was.”
office. An anonymous
Nardone’s office in Hammersmith had a view over the river. He
equipped it with two iMacs, a luxurious rug, and customised wood
flooring. He “basically built his own little throne room,” as one
former employee put it.
Adding to the company’s overhead, there were at least three staff
members at the startup who were on salaries in excess of
£100,000, according to two former employees.
Nardone himself paid himself over £204,000, according to a
payroll spreadsheet seen by Business Insider.
Staff claimed the CEO’s behaviour was inappropriate
Multiple employees told Business Insider that they considered
Nardone’s workplace behaviour to be inappropriate on more than
one occasion. Four of them said that they hope people never have
to work under him again.
In addition to throwing a Pret a Manger baguette at his father in
the board room, Nardone also threw a cup of miso soup at his head
of design in front of the whole office, one employee said, while
another said that he threw chairs around the office as well.
A portrait of Nardone was put on the ceiling of the
Nardone was regularly seen in with mysterious women on business
trips and at parties attended by colleagues, according to four
Staff said that Nardone lost a lot of weight during the lifetime
of Fling but they couldn’t understand why. Another said that his
mood became increasingly erratic around the summer of 2015,
around the time he went to Ibiza.
In March 2016, Nardone hired his girlfriend Toni Allcock as head
of human resources (HR) to handle some of the backlash he started
to receive from staff. Allcock did not respond to Business
Insider’s request for comment.
“He attempted to funnel all unpopular or unpleasant decisions
through her,” said one former employee. “It was relatively common
for staff leaving to have some part of their pay held back and
take a while to reach them. Unsure if this was some sort of
leverage or just petty.”
Another former member of staff said: “When people built up a
resentment towards him he seemed baffled and considered it just
angry townspeople pointing fingers at the ‘guy at the top.’
Occasionally he’d (appear to) arrange token gifts in an attempt
to appease people somewhat. These varied from cookies all the way
up to full-day team-building activities. In my opinion, he
started a company simply to be the ‘boss’ because he feels that’s
his natural station.”
Marco Nardone and his
girlfriend Toni Allcock on holiday in Bora Bora shortly after
Fling filed for administration. Instagram/Marco Nadrone
The money ran out and Fling took its app offline
With staff leaving and money running out, Fling started to run
out of options. The company needed a constant stream of money to
fuel its aggressive marketing efforts and keep paying its
The bankruptcy administrators wrote that Fling struggled to raise
further capital as a result of its “legacy issues,” which
included, but were not limited to, “senior management who left
the company after Apple App Store removal, high overhead costs as
the company owned and had developed 10 other products (not solely
the Fling application), as well as low product growth and
retention.” Nardone initially set out to build a series of apps
and websites for students, including one called Studently and
another to help students find accommodation, but these products
never really took off as Fling became Nardone’s main priority.
As the finances dwindled, Nardone stopped using and paying for
the Fling content moderation team in the Philippines. Users
immediately took advantage and began behaving as if they were on
Chatroulette again. Ian Morris, a contributor for Forbes, wrote a review of the app in September 2016
titled, “Social Network Converts To Amateur Porn Hub Overnight.”
The app shut down quietly at some point towards the end of last
summer, with users complaining on Twitter that they hadn’t heard
anything from the company about why they couldn’t access their
@FlingTheWorld contacted support &they havent reached out to me its been a few days? I really would like to be able to use my account again!
Nardone burnt through £9 million in 2015 and almost £3.5 million
in the nine months leading up to 31 December 2014, according to
the administrators’ report.
A former employee said: “He basically went down in flames at the
end of the day. His dad got to the point where he wasn’t going to
pump any more money in.”
Fling filed for administration in August 2016
London-based Resolve Ltd was appointed as the administrator on
August 26, 2016, by Nardone’s father. Resolve employees Simon
Harris, Mark Supperstone, and Ben Woodthorpe handled the case but
none of them responded to Business Insider’s request for comment.
The administrators were tasked with rescuing the company or
achieving a better result for Unii’s shareholders than if it were
The administration process was dragged out over several months,
with the company filing not one but four “notifications of
intent” to file for insolvency administration.
The administrators wrote that a number of companies looked into
buying Fling in the six months leading up to September 7. But in
the end, Nardone set up another company called DSCVR Ltd and used
this business to make an offer for Unii of £250,000 on August 4,
2016, which was accepted on August 31, 2016. The administrators
wrote that the company’s intellectual property (IP) was valued at
£213,639, while the office equipment was worth £15,100.
DSCVR Ltd is expected to fold due to a lack of funds, according
to a former employee. The company had not filed for
administration at the time of writing.
The administrators went on to state that the money is simply
being circulated — passed from one of Nardone’s companies to
another — but stressed that there was nothing illegal about the
Nardone travelled the world after his company filed for
Fling shut down with debts of £880,997, including a £120,268 debt
with Twitter and a £45,068 debt with Google. The administrator’s
report also shows that former COO Emerson Osmond is owed £98,634,
likely in unpaid wages.
Fling owes hundreds of thousands of
While reporting this story, Business Insider contacted more than
15 former employees.
Nardone told Business Insider on January 5 that he denies all the
allegations made by his former employees.
Prior to that, he sent two screenshots of a LinkedIn conversation
between Business Insider and Chung Lin Hsieh, one of his former
employees, where we asked what life was like working for Fling.
He did not explain his logic for sending the screenshots.
Fling is no longer available for download on the App Store and
existing users can’t use the app.
Fling has not made any announcements on its website or its social
media channels to inform its users that it is no longer in
Photos on Facebook and Instagram show that Nardone has been away
on holiday with his girlfriend during the administration process.
The entrepreneur visited Bora Bora, Nice, Venice, the Maldives,
and Miami all in the last few months. “You just look at it and
he’s one of those rich kids of Instagram,” said a former
Jim Mickle’s indie Stake Land was one of 2010's best horror films—its post-apocalyptic road movie structure was familiar, but its gritty use of vampires (instead of, say, zombies) was distinctive. Mickle returns to produce Stake Land II, which is directed by Dan Berk and Robert Olsen—and we’ve got an exclusive clip.