on April 30, hunting cloud network news
anonymous social applications Secret CEO David BeiTao (David Byttow) announced on Wednesday that he will close the company, and will return after the money raised to investors.
BeiTao said: “after a thoughtful and after consultation with the board of directors of the company, I have decided to close the Secret. This is the most difficult decisions I made in my life, also let me feel the most sad a decision. Unfortunately, the Secret is not in when I started the company with a dream, so I think to myself, for investors and our team, this is a right decision.”
he said: “in the next few weeks, I will do some things I think right, dissolution of Secret gracefully. Although most team members have found other exciting development opportunities, but I still decided to put most of their time to help the core team to find the next role.”
Secret launched in February 2014, at the height of more than 10 million downloads. One month after the launch, Secret from Google ventures and kleiner perkins caufield & byers and other investors received $8.6 million in financing, at the time, this sign also has a good potential for development. Since then, the Secret again after a few rounds of financing, financing a total of 35 million dollars.
however, in recent months, the Secret was plagued with decline in usage. By the end of the 2014’s, the Secret has dropped out of the first 1500 iTunes store location. Last December, Secret this form based on text chat platform to launch, a move aimed at regaining user support. These efforts, however, failed to succeed. Some of the latest media reported that the Secret of the staff has been reduced to 10 people, these are the rest of the staff and the company negotiate severance package.
BeiTao also said: “there are still a large number of Secret has invested capital, but investors is to provide financing for our team and the product, I think the right thing to do is to return the money, rather than trying to transfer funds.”