WeAre8 ‘spent $60m to get 500k monthly users’

The founder of social media app WeAre8 says the startup is now close to breaking even, having spent $60m over eight years.

WeAre8’s Zoe Kalar revealed this week that the network’s entire Australian team — nine people — had been laid off. Speaking with Mumbrella, Kalar said that despite the retreat from Australia, the company was not contracting.

Instead the resource was being reallocated to Europe and the US.

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