Anonymous messaging app Secret is shutting down.
In a post on Medium, CEO David Byttow said it was the “hardest decision” of his life.
“This has been the hardest decision of my life and one that saddens me deeply. Unfortunately, Secret does not represent the vision I had when starting the company, so I believe it’s the right decision for myself, our investors and our team,” he said.
The app, which was similar to Yik Yak but focused more on sharing with circles of friends, had raised $35 in funding. Remaining funds will be given back to investors.
“Secret, Inc. still has a significant amount of invested capital, but our investors funded the team and the product, and I believe the right thing to do is to return the money rather than attempt to pivot. Innovation requires failure, and I believe in failing fast in order to go on and make only new and different mistakes,” said Byttow.
With a heavy heart, I've decided to shut down Secret, wind-down the company, and return the remaining money. https://t.co/HZUCMe3xFu
— David Byttow (@davidbyttow) April 29, 2015
According to TechCrunch the company, which had been going through user decline for a few months, had already scaled its workforce down to about 10 people.
“I will spend the next couple of weeks doing what I believe is right to wind down Secret gracefully. While a majority of the team has already moved on to other exciting opportunities, I will dedicate most of my time tohelping the core team find their next roles. We curated one of the most amazingly talented teams I’ve ever had the privilege of working with and I am certain each of them will go on to do great work at the very lucky companies that are able to hire them.”