Chris Hughes's Startup Jumo ‘Acquired’ for $0 and a Graceful Exit

I like the first comment:<p><i>There’s no shame in having a failed startup. There is shame in attempting to maintain the facade of success.</i>

Jumo is a non-profit, not a startup. Using the language "acquired" and "exit" doesn't make any sense.

Legal folks, can a non-profit be acquired for more than $0?<p>It's a great deal for Good as they get the fruits of $3.5 Million in charity for free, but I'm not sure how they would pay unless the IP was locked up in a for-profit licensing-centric holding company.

Hughes has already denied this on Twitter, but really, who knows.

I'm surprised they didn't keep at it... Jumo had been live for what, like less than a year? They were entering the same space as care, change, and idealist. Those sites took YEARS to develop their community base. Not saying things need a timeline but geez....

How did they burn through $3.5MM in less than a year? Curious.