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Instagram Founders' News App Artifact to Shut Down

Lack of Market Opportunity and User Engagement Cited as Reasons for Closure

  • Artifact, the news app co-founded by Instagram founders Kevin Systrom and Mike Krieger, is shutting down operations next month due to a lack of market opportunity and user engagement.
  • The app, which used AI to suggest news articles based on users' interests and preferences, also allowed users to create and share their own content.
  • Despite being praised for its AI-centric features and reporter-friendly features, Artifact struggled to stand out in the market, leading to its closure.
  • Artifact's shutdown comes amid increased competition in the news aggregator landscape and a shift in how users find news and information.
  • CEO Kevin Systrom hinted at a future AI-focused project, stating that the opportunities for new ideas in the realm of AI seem limitless.
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