How long does it take for a startup to go from $100 million to $0? If you are Secret, the anonymous social networking app, the answer is 10 months.
Co-founder David Byttow announced in a blog post Wednesday that he was shutting down the 16-month-old company because Secret does not represent the vision I had when starting the company. The news comes 10 months after the company raised $25 million from marquee investors at a valuation of $100 million.
“This has been the hardest decision of my life and one that saddens me deeply,” Byttow wrote.