Yes. Tile was a somewhat popular trakcking app that used a crowd-sourced network to find their tags. In recent iOS versions Apple crippled the Tile app by adding a lot of privacy settings related to location and bluetooth tracking.

Tile complained loudly when Apple released Airtags. Airtags are basically the same as the Tile trackers, except that the privacy settings that crippled the Tile app don't apply to Apple's app.

It seems that Tile realised that they have no growth potential any more since they have no chance to compete against Apple's first party solution, so all they could do is try to sell out before all their users were gone.