Skybox Imaging was hanging by a thread. The venture-backed company was founded with the goal to develop a constellation of imaging microsatellites to deliver high-resolution imagery of any spot on Earth multiple times per day. The company had raised $21 million from two top venture capital (VC) firms in Silicon Valley, and was in the midst of the Series C financing to raise close to $70 million to fund the company through the launch of its first two microsatellites. Unfortunately, the round had taken a turn for the worse and the funding fell through at the last minute, leaving the company in a very precarious situation. The board and management team were grappling with a decision regarding the company's future, specifically whether it made sense for the company to close its doors and minimize the bleeding, or to make a last-ditch effort based on a $10 million bridge loan from inside investors.
