How Zenefits' Big Bet On Sales Went Wrong

On a Wednesday last May, a young startup called Zenefits vaulted into Silicon Valley’s elite ranks, becoming a “unicorn” with a $4.5 billion valuation. That Friday, for its inaugural President’s Club weekend, Zenefits flew around 70 top sales reps and executives to Las Vegas. The select crew partied at high-priced tables at the Omnia nightclub, crashed in suites at the Cosmopolitan hotel, and spent the next day in a private bungalow at the Encore Beach Club, where champagne...
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