04 May A Dramatic Legal Battle Between A Wealthy Robotics Founder And His Wife Takes New Twist: Bankruptcy
Suitable’s demise is not a typical tale of the struggling equipment startup: Its bankruptcy may be the development that is latest in a dramatic appropriate saga between its creator, Scott Hassan, and their spouse, Allison Huynh, that are locked in a on-going, almost five-year divorce or separation proceeding.
Hassan has a history that is storied Silicon Valley. He’s credited with composing section of Google’s code that is original spending when you look at the business lower than fourteen days after it included. He proceeded to offer a message startup to Yahoo for around $432 million in stock in 2002, before founding the robotics pioneer Willow Garage in 2006, which fundamentally spun off Suitable, where Hassan had been founder and CEO. Huynh is a business owner too: She founded a video video video gaming company called MyDream Interactive and caused Hassan on an early on 2012 investment in augmented reality business Magic Leap.
The couple’s relationship fell apart and they began divorce proceedings in 2015 after being married for nearly 15 years. Meanwhile, the robotics startup floundered. Though Edward Snowden, Steph Curry, President Barack Obama, among others purchased Suitable’s Beam item to speak to some body remotely, the business only sold or leased about 7,000 devices and had been never ever lucrative, with running losings totalling significantly more than $50 million between 2013 and 2018, based on the bankruptcy statement.
Suitable’s appropriate entanglements started year that is late last. In November, Huynh, being a shareholder in appropriate, sued Hassan over a so-called breach of fiduciary responsibility.