The Messenger CEO and founder Jimmy Finkelstein came close to raising the cash necessary to keep the business afloat for several more months, sources told Axios, but ultimately failed to close a deal to keep the company afloat.
The Messenger was built on the flawed premise that a big, generic news audience has value. It doesn't anymore. Social media giants - eager to get out of the news business - no longer distribute traffic for free to news sites, forcing most news companies to rely on search traffic, which takes time to grow, or buying visitors.
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