Non-unicorn $700 e-scooter shop Unicorn folds with no refunds – after blowing all its cash on online ads

In a savage blow to the notion of nominative determinism, e-scooter startup Unicorn is shutting down after blowing all its money on Facebook ads.

To add insult to injury, none of its 350 orders will be shipped, and the firm isn’t able to provide full refunds for the scooters it failed to deliver.

"A large portion of the revenue went toward paying for Facebook ads to bring traffic to the site."

"And as the weather continued to get colder throughout the US and more scooters from other companies came on to the market, it became harder and harder to sell Unicorns, leading to a higher cost for ads and fewer customers."