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App Testing Startup HeadSpin Returning $95M To Investors

A mobile app testing startup named HeadSpin has agreed to return up to $95 million in funding to investors, The Information reports. Apparently, “an internal review of financial irregularities forced it to restate its financials,” it writes. “The previously unreported review follows the board’s discovery that the company was on track to post only $15 million in annual recurring revenue by year’s end, a sliver of the $100 million in ARR it forecast in February.”

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