Instagram’s co-founders Kevin Systrom and Mike Krieger have decided to close the news app Artifact, which they created and launched a year ago in January 2023. The primary purpose of the app was to provide users with interesting news and events happening around the world with the help of an AI-driven approach. Also, it has featured a Reddit-like interface, which makes it further compelling and enables people to operate it easily. However, the platform wasn’t able to acquire the proposed levels and is now shutting down an untimely demise. The news of this move was revealed on Friday with the help of a blog post.
Core Functioning of Artifact
Kevin Systrom and Mike Krieger, the brains behind one of the world’s most popular social media platforms, Instagram, have founded this Artifact app. The reason behind this new adventure is to make sure that users are well aware of the facts and happenings around the globe. The app showcased a user-friendly interface with the interface matching Reddit. Moreover, the integration of artificial intelligence has made it tremendously easy for developers to provide users with suggestions that resonate with their interests. Hence, the Artifact app has gained immense popularity in the beginning due to its user-centric approach and extensive functional approach.
Reason Behind the Shutdown
Despite being the best in its core functioning and excellent approach, the platform has not gained as much popularity among the users as was expected. The developers continuously invested in the Artifact to improve its functioning and make it more accessible by updating the prior version for both iOS and Android devices. However, the app still fails to capture the required number of audience to sustain its position in the market. This failure has caused extra pressure on the founders, and they have decided to shut it down.
Kevin Systrom Statment
The Artifact app founders Kevin Systrom and Mike Krieger have confirmed that there are no further substantial opportunities to keep the app running. Systrom, who is also the current CEO, has revealed in a blog post that the current market status is not providing them with enough possibilities to keep the app running. In addition, he stated that although numerous users have shown their love toward this tremendous approach, they still have to close it and prevent investing further in the app to maintain sustainability and save crucial resources.
Readily after the announcement, the implications of the decision started. Now, users won’t post on this platform. Also, the commenting option is disabled, showcasing that the founders are pretty serious about implicating their decision. However, information revealed that Artifact will let you read all the news and posts till the end of February 2023.
The shutting down of Artifact is a statement for every new developer that they can’t predict the market every time in their favor. The co-founders of Artifacts have acknowledged the dynamics of competition and it is possible that they will come up with a new chapter that could be groundbreaking in this highly saturated market.