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.