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Startup Founder Sells Prized Ferrari After Having to Shut Down $100 Million Company

Yesterday, the startup world learned that Secret, the anonymous social networking app for sharing gossip, would be shutting down for good and returning money to investors.

Secret had raised a total of $35 million at a $100 million valuation throughout 2014. Their last Series B funding round last July brought $25 million from several early stage venture capital firms, Y Combinator partner Garry Tan and Reddit co-founder Alexis Ohanian.