Two days after Christmas in 2024, more than 35,000 U.S. small businesses that relied on Bench for their bookkeeping found a notice where their books used to be. Bench, a Vancouver accounting startup that had raised about $113 million from investors including Shopify and Bain Capital Ventures, said its platform was no longer accessible. Customers were given days to download their records, weeks before tax season. Staff were let go without notice. If you want to understand why startups fail, it is a useful place to start. Bench was rescued within days by a buyer, which makes it an unusual…
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