Secret

Secret

Secret offered an online platform that enabled users to share their personal secrets with other users anonymously.

  Social
  2013 – 2015
   San Francisco, CA
  Founded by David Byttow and Chrys Bader-Wechseler
  Raised $35 million in 3 rounds
  Backed by 25 investors

Reasons for Failure

Users would visit the site, but their initially daily visits decreased over time.

The nature of the anonymity on the platform caused inappropriate and mean comments. Secret tried to enforce community rules, but it was too late. This is the same thing that killed a company called PostSecret.

Lack of long-term vision for the company was made clear when founders sold shares of the company.

Founders selling their shares led to talent retention issues because employees lost faith in the longevity of the company.

Secret did not represent the vision the founder had when starting the company.

Product lacked product market fit due to failure to retain users in the long run.

Competitors

whisper

dynamite

bakfy

quiet

yikyak

tellM

Sources:  Sunset

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