After raising $200 million to build the next Facebook, IRL’s ousted CEO reacts to the company shutting down and most of its users being fake, saying he “believed in our metrics.” After ...

An internal investigation by IRL’s board of directors found that 95% of the app’s reported 20 million users were “automated or from bots,” The Information first reported.

SoftBank valued IRL at $1.1 billion. It turns out that 95% of IRL's users weren't real, leaving the firm in a difficult spot. SoftBank once invested in social app IRL at a $1.1 billion ...