If all that cash spent on marketing it wasn't spent very well.
Of course it wasn't spent on marketing. It was spent on 4, no doubt lovely, offices. And probably all those start-up perks, like free lunches, free beer, free pizza. Ping-pong and foosball tables aren't free either, you know.
Nor are corporate "team-building" retreats, nor top of the range iMacs and Macbooks for all staff.
I have no idea if any of this is true, but the general modus operandi of oddly-spelt startups these days seems to be to get as much cash as possible, spend it on cool stuff whilst doing as little work as possible (well, they have spent money on those ping-pong tables so would be silly to waste it). Keep the devs happy by letting them use bleeding-edge frameworks and nosql databases (won't matter if it doesn't work in the end as it won't actually get used), and let them do talks at trendy tech meetups ("How React and Cassandra saved our system!"). Then, hope to get bought out before the cash runs out.
If you don't, well "fail fast" is a thing so come up with a new idea that everyone else is doing and rinse/repeat.