Artifact, the news app developed by Instagram founders Kevin Systrom and Mike Krieger, is closing its doors less than a year after its debut. Kevin Systrom shared the news of the app’s shutdown in a Medium post, revealing that despite having a devoted user base, the market opportunity for Artifact wasn’t substantial enough to justify ongoing investment. The Artifact team, consisting of just eight employees, will now redirect their efforts towards “newer, bigger, and better things” with the potential to reach a broader audience. As part of the shutdown process, new comments and posts will be disabled due to moderation challenges. However, existing posts will remain visible, and Artifact will continue to function as a reading app until the end of February.
Despite being named the everyday essential app of the year by the Google Play Store, Artifact struggled to secure a sustainable market share. This closure marks the end of Artifact’s brief journey in the competitive news app landscape. Kevin Systrom and Mike Krieger, who departed Instagram in 2018, six years after its acquisition by Meta (then Facebook) for $1 billion, cited challenges associated with the platform’s rapid growth. Their decision to leave mirrored a broader trend, as several founders parted ways with their apps following acquisitions by Meta, including Oculus co-founders Brendan Iribe and Palmer Luckey, as well as WhatsApp’s Jan Koum.
The closure of Artifact is not only a reflection of the tough competition in the news app market but also emphasizes the challenges even experienced founders face in sustaining success in the tech industry. Despite their history of creating Instagram, one of the most popular social media platforms, Systrom and Krieger couldn’t replicate the same level of success with Artifact. The dynamic nature of the tech landscape demands continuous innovation and adaptation, and even industry veterans can encounter obstacles in bringing a new product to success.