The Messenger, a Centrist News Outlet, Shuts Down Less Than a Year After Launch
In a surprising turn of events, The Messenger, a centrist digital news outlet, has announced its closure less than a year after its highly anticipated launch. Founded by media entrepreneur Jimmy Finkelstein, the outlet aimed to revolutionize the industry as a centrist publication. However, despite hiring hundreds of journalists and implementing a strategy to generate internet traffic from social media platforms and search engines, The Messenger was unable to overcome the challenges it faced.
The collapse of The Messenger is considered one of the largest and quickest failures in recent memory. Just eight months after its debut, the outlet is shutting down, leaving its staff shocked and uncertain about their future. According to reports, employees learned about the closure from The New York Times, which broke the news of the outlet’s demise.
In a memo sent to staff, Finkelstein expressed his deep regret over the decision to shut down The Messenger. He explained that despite exhausting all available options and attempting to raise sufficient capital to reach profitability, the outlet was unable to do so. Finkelstein acknowledged the economic headwinds faced by many media companies and admitted that as a new company, The Messenger encountered even more significant challenges that ultimately led to its demise.
The closure of The Messenger comes at a time when the media industry is grappling with widespread layoffs and struggles in advertising and audience engagement. Major news organizations such as The Los Angeles Times, TIME, and Business Insider have already made significant cuts to their workforce. Additionally, protests against planned cuts have taken place at Condé Nast, Forbes, The New York Daily News, and other outlets.
When The Messenger launched, it had ambitious goals of hiring 550 journalists and reaching 100 million readers on a monthly basis. While it fell short of these targets, the outlet did manage to hire 300 journalists. To achieve its lofty goals, The Messenger brought on board Neetzan Zimmerman, a renowned traffic guru, as its chief growth officer. However, the strategy of generating audience through social media platforms and search engines led to frustrations among journalists who felt pressured to produce a high volume of low-quality articles.
By the fall, it became evident that The Messenger was facing financial difficulties. Reports emerged that the outlet was seeking to raise $20 million while laying off two dozen staffers. In an attempt to secure funding, Finkelstein even met with right-wing financiers, including discussions at Donald Trump’s Mar-a-Lago. Despite refuting rumors of collapse and claiming to have raised over $10 million in its last funding round, The Messenger ultimately failed to secure the necessary capital.
The closure of The Messenger has left its staff devastated and uncertain about their future. Dan Wakeford, the outlet’s editor in chief, expressed his sorrow and apologized to the team for the challenging weeks they had endured. He praised the editorial team for successfully building a brand from scratch and creating a neutral news outlet that appealed to both insiders and outsiders.
On social media, staffers reacted with a mix of sadness and frustration. Many expressed their disappointment at the way the closure was handled, with some learning about their layoff through The New York Times rather than official channels. The sudden end of The Messenger has left employees scrambling to clean out their desks and find new opportunities.
The collapse of The Messenger serves as a stark reminder of the challenges faced by media companies in today’s digital landscape. Despite ambitious goals and efforts to adapt to changing trends, even well-funded ventures can struggle to survive. As the industry continues to grapple with economic headwinds, it remains to be seen how other outlets will navigate these turbulent times.
