Anonymous Social Media Network, Secret has announced it would shutdown. The San-Francisco based startup bust onto the scene about 16 months ago; so far managed to gain attraction and this came also with several controversies due to its anonymous nature of posting.
The announcement was made by David Byttow, CEO and Co-Founder of Secret on the official blog.
“I’m extremely proud of our team, which has built a product that was used by over 15 million people and pushed the boundaries of traditional social media.
I believe in honest, open communication and creative expression, and anonymity is a great device to achieve it. But it’s also the ultimate double-edged sword, which must be wielded with great respect and care. I look forward to seeing what others in this space do over time.”
He said.
Secret is/was a social media network which pride itself by letting users post anonymously. The network manges to gained traction from people especially the youths and like Byttow said it is a double-edge sword, it also came with controversies. This made people post secrets, things they wouldn’t say publicly and it also incited cyber bullying.
While most startups fail due to shortage of funding or inability to service debts; Secret has no issue with funding and is currently valued around $35 Million which it raised from investors. The funding would be returned back to investors and postmortem of what what went down would be released in due to course for others to have a peek of happening and if possible, learn from it.
