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Instagram co-founders’ news aggregation startup Artifact to shut down

TechCrunch · 1y

Instagram co-founders' news aggregation startup, Artifact, is shutting down, citing a market opportunity not large enough to justify continued investment. Initially a news reading app, Artifact evolved into a curation and news discovery platform, incorporating AI tools for news summarization. However, these changes may have diluted the app's original value. Instagram and Artifact co-founder Kevin Systrom acknowledged the tough decision, emphasizing the importance of recognizing market realities early. Users will have time to transition as features are gradually shut down, with core news capabilities operational until the end of February.