Instagram co-founders' Artifact news app shutting down soon: Here's why
Artifact, a US-based news aggregation app-turned-social network launched by Instagram co-founders Kevin Systrom and Mike Krieger, is shutting down. It announced the decision to "wind down operations" on Friday (local time), stating there weren't enough market opportunities. Launched just a year ago, Artifact went through several changes, evolving from a news-reading app to a platform for news curation and discovery. Acknowledging the market opportunity isn't big enough, Systrom said, "Making the tough call earlier is better for everyone involved."
Company utilized rapid iterations and AI tools to stay relevant
Artifact underwent swift iterations, evolving from a news-reading app to a curation and news discovery platform. Developers also tried to make the app relevant by using AI tools to summarize news, rewrite clickbait headlines, and highlight top content. However, these changes may have taken away from the app's original purpose as a simple news app. Instead, it became more like a Twitter/X alternative, competing with numerous other platforms, including Meta's Instagram, which introduced Threads last year.
How the shutdown process and timeline are planned
To make the transition easier for users, Artifact will begin by disabling features like commenting and posting. This will reduce the need for moderation while still allowing existing posts to be visible for now. Artifact plans to keep its "core news capability" running until the end of February. Meanwhile, Systrom remained optimistic about the future, stating, "We live in an exciting time where artificial intelligence is changing just about everything we touch."
Artifact faced various challenges
Artifact faced tough competition in the Twitter/X rival market and saw a decline in usage compared to other news aggregators. The app had difficulty establishing its identity as a conversation and discovery platform, a Pinterest competitor for finding interesting links, or an AI-powered news engine. Despite the shutdown, Systrom believes that news and information "remain critical areas for startup investment" and that other "bright minds" are working on ideas in this space.
