Secret Shuts Down

Anonymous sharing app Secret will shut down soon, according to sources close to the company. The announcement could be made as soon as today or tomorrow, and there’s some talk of current employees receiving modest severance packages. Having raised $35 million, it’s unlikely that the company is out of money.

But after a major redesign sterilized the app’s identity and made it look just like its much more popular competitor Yik Yak, and its co-founder Chrys Bader-Wechseler left, Secret may see shutting down as the best outcome. Many employees, including top talent like Sarah Haider, Safeer Jiwan, and Amol Jain have left the company over the past month or so. One source says the company has been whittled down to under 10 employees from over 20 several months ago and has been in “maintenance mode.”

Requests for comment to Secret’s employees and CEO have gone unreturned.

It’s probable that Secret will hand its remaining cash back to investors, which include Kleiner Perkins Caufield & Byers, S-Cubed Capital, Index Ventures, Google Ventures, SV Angel, Fuel Capital, and Ceyuan Ventures.

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