The Messenger owner Jimmy Finkelstein
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Struggling startup The Messenger is closing down just eight months after it was launched, The Hollywood Reporter can confirm. Around 300 employees are being laid off from the media company. Employees found their Slack accounts deactivated shortly after 1 pm PST Wednesday. There was no response from a Messenger spokesperson when contacted by phone.
“I am not in the loop. Trying to find out now,” editor Dan Wakeford earlier wrote on Slack after being asked by staff if there would be any update from management. The decision came after The Messenger’s board met earlier Wednesday to determine the fate of the site.
A message to the staff from owner Jimmy Finkelstein is provided below:
I am personally devastated to announce that we have made the incredibly tough decision to close down The Messenger, effective immediately. We have explored every possible avenue over the past few weeks, right up until last night, and have tried to raise enough funds to become profitable. Unfortunately, we have been unsuccessful, which is why we have only just shared this news with you. This is truly the last thing I wanted, and I am deeply sorry.
The Messenger started with a very important mission – to deliver balanced and accurate journalism at a time when Americans’ trust in media is at an all-time low – and I am proud of what we accomplished. Our editorial team created and delivered an exceptional product that generated unprecedented traffic in seven months. ComScore recently announced that we reached 88 million page views in November. Under better circumstances, I believe we could have made a significant impact in today’s fragmented media environment and country.
The industry has faced extraordinary challenges this past year. The economic challenges have left many media companies struggling to survive. Unfortunately, as a new company, we faced even more significant challenges than others and could not overcome those difficulties. I am thankful to you and the partners who believed in our mission and joined us over the past seven months, but the reality is that we needed more funds to move forward successfully.
We understand that this announcement will immediately raise several questions, and our team is committed to providing timely information during this period. Our Chief People Office is available for any questions we have not addressed in the FAQs.
Once again, I want to apologize for being unable to find a way through. Thank you for your unwavering dedication and hard work. I wish everyone well in their future endeavors.
Sincerely,
Jimmy
More to come.
