The once promising social news app Artifact, founded by Instagram co-creators Kevin Systrom and Mike Krieger, is ceasing all activities. In a blog post, Systrom revealed the difficult decision to shut down the app, launched just over a year ago, citing lack of market fit.
Starting as a simple news aggregator, Artifact pivoted multiple times searching for product-market fit. It morphed into a Twitter-like social platform where users could curate and share interesting articles. However, this diluted the original value proposition and competing in social media is no easy feat.
Systrom acknowledges many startups fail to recognize when the market isn’t receptive. “Making the tough call helps everyone move forward,” he stated. With limited traction and intense competition, continuing wasn’t viable long-term.
This comes as news aggregators and Twitter alternatives see user declines. However, Systrom remains optimistic about technological advances like AI shaping the future of information discovery. While Artifact couldn’t survive, he’s excited to explore new opportunities in information and startups.
For users, key features will shut down over the next month allowing transitions. Artifact showed vision and innovation don’t guarantee success without product viability. Its closure highlights challenges in information platforms though the founders’ next ventures are eagerly anticipated.
