App Annie
$4, the mobile news app that was founded in 2011 and $4, is shutting down - at least for now.
Circa CEO and co-founder Matt Galligan announced on Wednesday that his app and website have been put on "indefinite hiatus" due to a lack of funding.
"Producing high-quality news can be a costly endeavor and without the capital necessary to support further production we are unable to continue," wrote Galligan $4. There apparently was a plan in place to monetize Circa News, but the startup was "unable to close a significant investment prior to becoming resource constrained."
"It's with a deep sadness that we find ourselves in this position," added Galligan, who noted that some members of Circa's 20-person team have already found jobs elsewhere.
In early May, $4 that Circa was looking for a buyer after failing to close on a crucial investment. Nothing new has been published on $4 or $4 since June 21. Wednesday morning, the news service's editor-in-chief tweeted about the editorial team being left in the dark: