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Outbyte Driver Updater FREEFix the driver behind crashes, sound loss and screen glitchesFind Drivers →Outbyte PC Repair FREERepair Windows errors before they cause bigger problemsFix Now →Simon Yu’s path from selling Korean tacos to co-founding StormX ran through financial pressure, a food-truck business, and a chance meeting with a fellow University of Washington alumnus. StormX’s growth figures and product description below reflect a July 2021 profile—not its status today: the company’s website now displays a notice that StormX, Inc. filed for Chapter 7 bankruptcy protection.
Why Simon Yu started selling tacos
Yu grew up near Portland, Oregon, and moved to Seattle to attend the University of Washington. When his parents’ frozen-yogurt business ran into financial trouble, he left school and took a job as a bank teller. He was struggling to cover rent, loan payments, and food, so he began making tacos using his mother’s Korean barbecue recipe.
At 19, Yu borrowed $100 from his father to get started. He sold tacos to students working late at UW’s Odegaard Library. What began as a way to make ends meet grew into Bomba Fusion, a food truck. Yu continued working in banking while operating it.
How Bomba Fusion led to CakeCodes
Around 2014, Yu became interested in Bitcoin and met Calvin Hsieh, a University of Washington computer-science graduate. Hsieh was developing a consumer app that paid users small amounts for watching video ads. He applied to manage Bomba Fusion, and Yu later invested in Hsieh’s startup, CakeCodes, while still running the food business. Yu eventually left banking to focus on Bomba Fusion and joined the startup.
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CakeCodes was accepted into the 9Mile Labs accelerator in 2016 and received angel funding in early 2017. It evolved into StormX, which Yu and Hsieh built around online earning opportunities. Yu described his approach to solving problems as a fast learner: “I’m a quick learner. I think that’s the one thing that I learned from being an entrepreneur for 10 years.”
What StormX offered in 2021
In GeekWire’s July 16, 2021 profile, StormX was described as a cryptocurrency rewards platform. Users could receive shopping cashback in crypto and earn small amounts by completing online tasks such as trying games or apps. The profile named Bitcoin, Ethereum, and StormX’s own token as reward forms.
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Yu characterized the company’s vision at the time this way: “Overall, what we’re trying to build at StormX is a single marketplace where people could just come and find different ways to earn money online.” The profile reported these company figures as of 2021:
- More than 150 countries in its reported global audience.
- More than 3 million cumulative app downloads.
- More than $4 million in rewards paid.
- $38.7 million in total startup funding.
- A workforce that reached 53 people, including contractors, fell to eight after downsizing, and later grew to 23.
These numbers describe what GeekWire reported in 2021. They are not current performance figures, and the historical account does not establish that the app or rewards features remain available.
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What happened to Bomba Fusion
Yu eventually handed Bomba Fusion to his parents, and the business later focused on catering. The COVID-era disruption reduced demand from office clients. At the same time, Yu’s mother became unable to operate the business while receiving treatment for a brain tumor. GeekWire reported that she underwent successful brain surgery in Korea; Yu then encouraged his parents to retire.
StormX’s present status is different from its 2021 growth story
As of October 8, 2026, StormX’s About page and homepage display a notice that StormX, Inc. filed a voluntary petition for Chapter 7 bankruptcy protection, case number 25-10730(BLS). Those pages also retain promotional descriptions of the app and rewards, but that marketing copy does not establish current service availability. The bankruptcy docket, the app’s functionality, and the status of related entities have not been independently established here.
StormX also announced leadership changes after the GeekWire profile: a January 2023 roadmap said Yu stepped down as CEO to become chief strategy officer, and an April 2023 announcement said he returned as CEO. Those historical announcements do not establish his role today.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.The link between the food truck and the startup
Yu’s move from Bomba Fusion to StormX was not a clean break from food into tech. Running the truck gave him an operating business while he developed an interest in Bitcoin, met Hsieh, and backed CakeCodes. The combination of practical business experience and that relationship connected the two ventures. Reflecting on the persistence required to build with Hsieh, Yu said: “We just don’t take things for granted. We just keep going.”
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