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June 3, 2021

Dear stakeholders of Flourish,

After careful consideration, we have made the difficult decision to wind down the operations of Flourish Tech, Inc. We apologize for the inconvenience that this disruption has brought to you.

I want to thank you for giving us the chance to tackle the hard problem of using technologies to advance human flourishing. We have kept our cash burn rate low and tried for over a year to seek product market fit.

We had some successes. Flourish has empowered the lives of dozens of people. But we have not been able to achieve the fast growth that would make us fundable by Silicon Valley investors. At this point, we do not have a quick path to be ready for the next round of venture capital funding.

As a result, we are winding down our operations. This is a hard and disappointing outcome. But not trying to succeed in the first place would have been even worse. Thank you for joining our valiant venture to advance human flourishing. As Thomas Edison said, “I never failed [to invent the lightbulb], I just figured out 10,000 ways of how NOT to make a lightbulb.”

This is how we feel about our experience at Flourish. We are grateful for all we have learned. In fact, we have become stronger and wiser. If you have any questions or concerns, please feel free to email me directly at [email protected].

Onward and forward,

Paul Chen and the rest of the Flourish Team