The Austin, Texas based E-Scooters startup, Unicorn, recently announced that it is shutting down operations. Buyers who paid $699 for the company’s high-tech electric scooters are upset and unsure if they will receive a refund.

As per media accounts, Unicorn is shutting down operations after blowing all its cash on Facebook and Google ads but only receiving 350 orders for its e-scooters. The company’s website unicornrides.com has gone blank.

According to a report in The Verge

Unicorn CEO Nick Evans said the company had “totally failed as a business” and has also “spread the cost of this failure to you, the early customers that believed in us.”

The signs of trouble were on the wall even six months ago. In response to a query in Reddit asking what readers thought of the ‘new’ electric scooter, a few had posted “In 2019, this already feels dated. Same price as an ES2 without the option for extended battery/ES4.” and “Made by Segway, lucky if it lasts 6 months before something fails. They don’t know how to repair their own scooters. I would avoid this just like I do any others with Segway or Ninebot on them.”