Artifact, the personalized news app developed by former Instagram founders, is shutting down just one year after its launch. Although the app garnered a dedicated user base, co-founder Kevin Systrom explained that the market opportunity was not substantial enough to justify further investment. Systrom also emphasized the importance of making tough decisions early on in the startup process.
When Artifact was first introduced in January 2023, it aimed to provide a curated feed of news and factual content using artificial intelligence (AI) and machine learning. However, by April, the app had expanded to include content creation features, such as customizable profiles and voting systems, which resembled the user experience of popular platforms like Reddit.
Despite its innovative approach and positive reception from both news professionals and users, Artifact struggled to compete with the fast-paced nature of popular social media sites. Additionally, the novelty of AI-driven platforms seemed to be diminishing.
As a result, Artifact has made the decision to disable commenting and posting on the app, while allowing users to continue browsing news posts until the end of February.
Although the closure of Artifact highlights the challenges faced by startups in the news industry, Systrom remains hopeful that technology can play a role in preserving and supporting news organizations.
Overall, the closure of Artifact suggests that the personalized news landscape is highly competitive, and startups need to carefully consider the market opportunity and user preferences when developing their strategies.
The source of the article is from the blog elektrischnederland.nl