If you own modern home security or smart Home lock or doorbell; it is probably a nest by the company Shasta Ventures. According to reports; the company is facing some issues with its funds; after one of their main executives have left the company and that person is Doug Pepper.
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Joining the company in 2016 Doug Pepper with more than 15 years experience with InterWest; Partners and leaving them along with those years of experience for a new opportunity with Iconiq Capital, Axios. Doug Pepper leaving the company can have a negative outcome in the older company finances; because He was one of the key people funding the company with investors money; closing 53% of the target finance required.
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The reason why is because the people who invest their money did it because Doug Pepper is one of the partners; now he’s not the contract is not enforceable and they don’t have to commit to their previous investment.
Shasta is now trying to convince their current investors not to leave; and keep them on board with the whole situation. We are still not clear about why he left the company.