
The Messenger, a news startup that Jimmy Finkelstein launched last spring with $50 million in funding and 175 journalists stationed in New York, Washington and Los Angeles, has shut down less than a year later, after running out of money. When it launched, the company said it would bring in more than $100 million in revenue this year, but by the end of 2023 it had less than $2 million of its initial funding left, and just $3 million in revenue. Earlier this month, Semafor reported that The Messenger‘s board of directors had considered shutting it down, since it was expected to run out of cash soon. And soon is now.
Coming as it does amidst a litany of layoffs and shutdowns in the media— including broad cuts at Time magazine, the Washington Post, the Los Angeles Times, and Business Insider —it’s tempting to see The Messenger‘s sudden shutdown as yet another symptom of a broader media decline. But this particular death is in a category by itself. Yes, the ad downturn and other macro effects no doubt had an impact, but The Messenger was doomed from birth. As I noted in a piece for CJR when it launched, its entire model felt like a blast from the past—and the past is about the only place where it might have survived.
From Finkelstein’s evocation of the glory days of Walter Cronkite and Vanity Fair to the hiring of Neetzan Zimmerman, a specialist in generating “viral” traffic, The Messenger seeemed almost prehistoric. As I wrote for CJR, the startup’s model seemed to be “harking to a time when social traffic from vast quantities of viral clickbait articles could bring in millions of dollars in advertising revenue.” Those days, as BuzzFeed could no doubt testify, are gone. And the route that The Messenger chose to get there clashed with its lofty goals. Jon Christian, the editor of Futurism, wrote that despite its talk about revolutionizing journalism, the site was “churning out viral dumpster juice” from day one.
Note: This was originally written for the Columbia Journalism School, where I am the chief digital writer.
Continue reading “I wish I could say that The Messenger’s failure came as a surprise”














