Jun 27, 2017

Opt out or contact us anytime “It was an ambitious and risky proposition from the beginning, with some great vision to try to revolutionize the automotive aftermarket,” said David Pakman, a partner at Venrock who oversaw the Pearl investment. “They are extraordinary product people, but none of us understood the market correctly.” Advertisement Pearl’s failure was first reported by Axios . Mr. Gardner said that Pearl held talks with several potential acquirers in the automotive industry but could not reach an agreement. It did find a company, American Road Products, to take over its RearVision backup camera so current customers will not be left in the lurch. While the company has failed, its employees are already fielding job offers. Brian Latimer, a program manager at Pearl who had previously worked at Apple, said that the employees liked working as a team and that some of them were trying to sell themselves as a package to a new employer. “We’re trying to keep the band together,” he said. “We’re incredibly effective.”