David Byttow is one of the founders of Secret, the anonymous social networking app for sharing gossip that raised $35 million and just announced it was shutting down for good.
In its heyday, Secret was the buzz of Silicon Valley, and after raising a final, $25 million round of funding in July, Byttow was allowed to pocket $3 million by exchanging some of his stock in the company, which he then used to purchase a Ferrari — a car he has since had to sell.
"Mr. Byttow’s once-prized red Ferrari is also gone," a new report from The New York Times said, citing "a person with knowledge of the matter."
While Byttow has promised to return Secret's remaining money to investors, it's been unclear if either he or Secret co-founder Chrys Bader, who also took $3 million off the table, would return that money as well.
Byttow has been a longtime fan of Ferraris, posting pictures of the car on Pinterest and mentioning that he was happy with his purchase, saying the car had "served me well."
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