In a post on Medium, founder David Byttow addressed and
expanded upon the decision to shut down Secret. “Unfortunately,
Secret does not represent the vision I had when starting the
company,” Byttow writes, “so I believe it’s the right decision for
myself, our investors and our team.”
In the post, Byttow announced that Secret will be returning the
“significant” amount of invested capital still in the company’s
possession to its investors. Secret had reportedly raised more
than $37 million, at a valuation of over $100 million.
$100 million valuation. Here’s a secret for you: anyone who invested in Secret is a dope.