The Messenger, a digital news startup that launched with $50 million in funding last May, plans to shut down operations, a source familiar with the situation told Axios Wednesday.
Why it matters: It’s one of the biggest media failures of the internet era. Worse, the demise was foreseeable — and foreseen.
Details: The Messenger CEO and founder Jimmy Finkelstein came close to raising the cash necessary to keep the business afloat for several more months, sources told Axios, but ultimately failed to close a deal.
The company, which was losing tens of millions of dollars, only brought in around $3 million in revenue last year, according to financial documents seen by Axios.
It originally projected $100 million in revenue for 2024 — a figure that onlookers doubted from the start, particularly given the industry’s current disarray.
In a staff memo, Finkelstein blamed the economic headwinds facing the media industry. “Unfortunately, as a new company, we encountered even more significant challenges than others and could not survive those headwinds.”
Catch up quick: The Messenger was founded by Finkelstein in 2023, two years after he sold The Hill — a Beltway-based print and digital publication co-founded by Finkelstein’s father in 1994 — to Nexstar for $130 million.
Finkelstein had previously co-founded a media holding group that purchased outlets like Adweek, Billboard and The Hollywood Reporter from Nielsen in 2009.
The Messenger hired 300 people across a few short months and paid them above market wage.
The big picture: The Messenger was built on the flawed premise that a big, generic news audience has value. It doesn’t anymore.
Social media giants — eager to get out of the news business — no longer distribute traffic for free to news sites, forcing most news companies to rely on search traffic, which takes time to grow, or buying visitors.
The deprecation of third-party tracking cookies has put a premium on monetizing smaller, more loyal audiences with first-party data.
A broader slowdown in the ad market has made subscriptions a critical revenue stream in addition to advertising.
The Messenger sold mostly automated digital ads at scale using third-party data. It also sold event sponsorships.
Be smart: The writing was on the wall.
For months, reports from The Daily Beast, Semafor and others detailed cultural and business challenges plaguing the failed news startup, including its former president telling employees the outlet was running out of cash last October.
What to watch: The Messenger was built on the idea that consumers would flock to centrist news across topics ranging from politics to entertainment and sports.
While the site garnered a sizable amount of traffic, proving some audience interest, it was unable to support its sizable newsroom on the revenue it generated.
Full memo from Finkelstein to staff:
I am personally devastated to share that we have made the painfully hard decision to shut down The Messenger, effective immediately. Over the past few weeks, literally until earlier today, we exhausted every option available and have endeavored to raise sufficient capital to reach profitability. Unfortunately, we have been unable to do so, which is why we haven’t shared the news with you until now. This is truly the last thing I wanted, and I am deeply sorry.
The Messenger started with an incredibly important mission – to deliver balanced and accurate journalism at a time when Americans’ trust in media is at a record low – and I am proud of what we achieved. Our editorial team created and delivered an outstanding product that generated unprecedented traffic in seven months. ComScore recently announced that we reached 88 million page views in November. Under the right circumstances, I know we could have made a significant difference in today’s fragmented media landscape and country.
The industry has faced extraordinary challenges this past year. The economic headwinds have left many media companies fighting for survival. Unfortunately, as a new company, we encountered even more significant challenges than others and could not survive those headwinds. I am grateful to you and the partners who believed in our mission and came on board over the past seven months, but the reality is that we needed more capital to move forward successfully.
We understand that this announcement will immediately raise several questions, and our team is committed to providing timely information during this period. Our Chief People Office is available for any questions we have not addressed in the FAQs.
Again, I want to apologize for being unable to find a way through. Thank you for your unwavering dedication and hard work. I wish everyone well in their future endeavors.
Money-bleeding start-up The Messenger — the news site that launched to great fanfare last May — was expected to shut down Wednesday, according to a source close to the situation.
“The site will go dark,” an insider at the publication told The Post, adding that none of the roughly 300 staffers will get severance.
Co-founder and CEO Jimmy Finkelstein, who launched the site in May after raising $50 million, had been scrambling to secure funding this week as employees braced to hear whether the company would avert disaster, as The Post previously reported.
“This will go down as one of the biggest busts of all time,” a media expert said. “The Messenger will be remembered as the Titanic of publishing disasters.”
He paid top dollar to lure away talent from major publications, including The Post, Politico and NBC News.
“What ultimately killed The Messenger was lack of message — and arrogance,” the media industry expert said. “Hundreds of people left great jobs with the promise of creating something better — which turned out to be a big lie.”
Another insider merely added: “It’s shocking how bad Jimmy handled this.”
Jimmy Finkelstein is shutting down The Messenger, his news site that he launched in May. Patrick McMullan via Getty Images
Finkelstein and the site’s president Richard Beckman crowed to The New York Times last March that the site would garner more than 100 million monthly readers and bring in $100 million in revenue in 2024.
But the company had a bumpy start, burning through cash at a fast clip and spending roughtly $39 million on hiring, CNBC reported.
Sources told The Post that the site lured in just 12.5 million unique visitors in November as Beckman — an exec known for aggressively drumming up advertising revenue, sounded the alarm bells to employees that the site was running out of money.
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TOP VIEWED
THE TRUTH
THIS IS ABOUT THE POLITICAL CORRUPTION THAT IS DESTROYING YOUR LIFE AND SOCIETY. NEARLY EVERY POLITICAL FIGURE IN THE USA IS TAKING BRIBES MASQUERADING AS STOCK HOLDINGS, GIFTS, TICKETS, REAL ESTATE, HOOKERS, SEARCH ENGINE RIGGING AND OTHER ILLICIT PAYOLA!
ALL OF THE CORRUPTION CONNECTIONS, ARTICLES AND REPORTS ON THIS SITE INVOLVE THE SAME 200, OR SO, PEOPLE AND THEIR FAMILY CARTELS! THESE REPORTS AND ARTICLES ARE ALL ABOUT THE SAME SMALL GROUP OF PEOPLE DOING THE SAME ACTS OF CORRUPTION IN AN ORGANIZED CRIMINAL MANNER!
"We are not the people you ever want to fuck with!
Every single entity (ie: competitor, dirty senator, cyber-assassin) that has fucked us over has been investigated and/or had the shit hacked out of them. Did we hack them? No! Did we pay hackers to hack them? No! Does the FBI and the CIA know exactly who did the hacks? Yes! Do we love that the bastards got hacked? Yes! All of the entities that fucked us over have been sued, and/or, placed under federal investigation, and/or tax audited, and/or bankrupted and/or had their executives and investors exposed in 60 MINUTES type reports. Their bribes, money-laundering, sex workers, cults, real estate scams, insider trading, payola, self-dealing and other illicit deeds have been examined and reported to every possible law enforcement, regulatory and community organization. We love that the bastards got that kind of payback - it is delicious! We make certain that our adversaries crimes and corruption lead to devastating karma! 100% legal tactical intelligence-agency type actions always work great on these 'bad guys'. They are usually too stupid to realize that their own cell phones, employees and associates are constantly ratting them out. Our efforts are totally legal and law enforcement people help with it all..."
READ MORE ABOUT THE BIG TECH AND WHITE HOUSE CORRUPTION CARTEL:
INTERNET SAFETY AND PERSONAL SECURITY REPORTS
SEE THESE REPORTS COMPILED BY CONGRESSIONAL AND INTERNET SECURITY EXPERTS. A PHONE OR WEB DEVICE GETS HACKED EVERY TWO SECONDS. YOUR PHONE AND 'SMART DEVICES' HAVE THOUSANDS OF WAYS TO LET HACKERS IN. FOLLOW THESE TIPS TO KEEP YOURSELF, AND YOUR FAMILY, SAFE!
Please share these documents with your friends and work-mates that are on the internet!
Only the most pathetically naive and ignorant of citizens still do not know that EVERY government, medical and corporate network, and all their files, have been hacked over, and over. Never trust your private data to a network. Assume that every dirty secret of the corrupt oligarchs and crooked politicians is now on the web, or about to be. Deeds done in the dark will always come to light!
HELP BANKRUPT CORRUPT BIG TECH AND THEIR CRONY POLITICOS!
Tesla, Facebook, Google, Alphabet, Netflix, and their owner's are corrupt operators of crimes against the public. Their election rigging, bribes, domestic spying, sex trafficking execs and money-laundering require that they be forced into bankruptcy.
We have hunted down every single one of our attackers and had them: sued and/or bankrupted and/or arrested and/or indicted and/or fired and/or boycotted and/or exposed in books and documentaries and/or investigated by law enforcement, intelligence and regulatory agencies and/or placed under surveillance and/or financially tracked across all of their family trust funds, shell corporations, money-laundering and campaign finance accounts and/or targeted in Congressional investigations that we developed and/or removed from office and otherwise addressed for the rest of their lives.
We are destroying political corruption by legally destroying all of the tools of the corrupt!
By comparing records and files from FINCEN, FBI, FTC, SEC, Congressional Investigators, ICIJ, FEC, DOJ, ProPublica, and other sources, one can easily see that Bay Area political officials own Google, Tesla, Facebook, YouTube, Instagram, et al, (AKA “The Tech Cartel” or, in legal terms: “The Enterprise“). This explains why those companies have been exempt from regulation and prosecution. Those public officials and tech company oligarchs have exchanged millions, and millions, of dollars between themselves and their families for profiteering.
They were all either financed by, friends, with, sleeping with, dating the staff of, holding stock market assets in, promised a revolving door job or government service contracts from, partying with, personal friends with, photographed at private events with, exchanging emails with, business associates of or directed by; our business adversaries, or the Senators and politicians that those business adversaries pay campaign finances to, or supply political digital search manipulation services to. Criminal U.S. Senators coordinated and profited in these schemes. Their own family members have now supplied evidence against them. You don’t hear about this, much, in the “main-stream news” because nearly half of Congress, White House staff and government agency bosses own the stock in the news broadcasters and receive billions of dollars of financing from them.
Many witnesses have now sworn, warranted and certified to federal law enforcement about the details of these crimes. Many of those whistle-blowers were former executives in “The Tech Cartel’.
This is not about politics. It is about felony crimes! Our government representatives are business partners with our biggest enemies and make decisions based on greed, not duty! Call them out! Demand their arrests!
COMPUTERS (ai) NOW CREATE ANTI-CORRUPTION DOSSIERS ON EACH CORRUPT PUBLIC FIGURE
Since 2008, server data shows that billions of people, around the globe, have viewed this site and also the vast number of AI generated clones of this transparency site on crowd-sourced servers world-wide. It is now impossible for any party to cover this quid pro quo corruption scheme up. The posted evidence is clear and irrefutable. The names of all those in the media, judicial and public offices, who persist in the cover-up and obfuscation of justice in this matter are publicly posted and their firings are pursued.
THE WHITE HOUSE TRADES ENERGY EXCLUSIVES WITH SILICON VALLEY INVESTORS FOR CAMPAIGN CASH AND SEARCH ENGINE RIGGING
THE BIG TECH STOCK MARKET BRIBES BEING PAID TO YOUR POLITICIANS
CROOKED JUDGES AND POLITICIANS WILL DO ANYTHING TO COVER THIS UP AND PROTECT THEIR STOCK MARKET INSIDER TRADING BRIBES. LOOK AT THEIR FAMILY STOCK MARKET TRANSACTIONS AND YOU CAN SEE THE TRUTH! THERE IS A CIVIL WAR IN AMERICA BETWEEN DNC AND GOP BUT THIS IS ABOUT CRIME, NOT IDEOLOGIES. THE DOJ AND THE COURTS SEEM TO ONLY WORK FOR WHITE HOUSE FINANCIERS, SO THE PUBLIC HAS TO SEEK JUSTICE NOW!
WE CAN'T FIND A SINGLE JUDGE, GOVT OFFICIAL OR DOJ EXECUTIVE WHO DOES NOT OWN STOCK IN THE PERPS OR GET A SECRET CONTRACT, REAL ESTATE DEAL OR OTHER PERK FROM THEM!
This site was created, over a decade ago, FOR direct evidence review by the FBI, IG, AG, FTC, SEC and other law enforcement and regulatory agencies that we report to. All of this evidence has been provided to them during that time. This information proves that a quid pro quo stock market bribery scam exists within, and between, agencies and politicians.
Our politicians take bribes in the form of stock market securities, real estate and internet data manipulation services from Google, Facebook, etc. These politicians are CRIMINALS that only work for themselves.
The White House ordered our case pulled from a Court with a Republican Judge and had it moved to a Court with a Democrat party judge who was friends with, and invested in, the perpetrators, so that their insider Judge could dismiss the case. Talk about 'dirty tricks'...
The Feinstein Family, Mart Baily, Art Blum, Herb Newman, John Podesta and their little crime family ran election rigging and stock market payola
Since 2008, server data shows that billions of people, around the globe, have viewed this site and also the vast number of AI generated clones of this transparency site on crowd-sourced servers world-wide. It is now impossible for any party to cover this quid pro quo corruption scheme up. The posted evidence is clear and irrefutable. The names of all those in the media, judicial and public offices, who persist in the cover-up and obfuscation of justice in this matter are publicly posted and their firings are pursued.
We lived with, socialized with, worked with and got inside scoops from, these politicians. They told us how their crimes and schemes worked. We have the proof of their quid pro quo organized crime scams.
Plaintiffs assisted law enforcement and regulatory officials in an investigation of a trillion dollar energy industry scam involving stocks, off-shore mining and election manipulation by public officials.
In retaliation/reprisal against Plaintiffs, government staff cut off benefits income and housing. They cut off government contracts and funding. They blocked patent monetization income. They used their media network, designed to kill off competing Presidential candidates, to run global character assassination revenge attacks against Plaintiffs (via Google, Gawker, Gizmodo, Media Matters, Black Cube, etc.). They used White House 'Plumbers' (Carney, Podesta, Schmidt, Denton, Rattner, Gibbs, Axelrod, etc.) to operate dirty tricks operations. They exposed Plaintiffs to toxins at the Department of Energy labs. They manipulated and 'red flagged' HR databases to cut off jobs for Plaintiffs. The attackers engaged in the bribery of contracting officers and agents to damage competitors and only award the attackers associates. The attackers engaged in internet server manipulation and website spoofing. The attackers used manipulation of online payment transaction systems to cut off Plaintiffs revenue. The state-sponsored attackers also engaged in: Hacking of competitors/witnesses devices; theft of patent materials; threats and possible murders of whistle-blowers; ordering crony's and NVCA allies to black-list competitors/witnesses; bribery of public officials to direct funds and contracts to them and away from competitors/witnesses competing products; government funds embezzlement; placement of sabotage moles, working for the White House, in competitors/witnesses companies to sabotage Plaintiffs plans and report internal data to competitors; Honey traps; DNS re-routing of all internet connections of competitors/witnesses; and more...
FBI-grade evidence and proof of these assertions has been filed in this case.
We are teaching the corrupt politician lapdogs and their Big Tech oligarch bosses that their abusive, self-dealing ACTIONS HAVE CONSEQUENCES.
If you have the skills and resources to eliminate this kind of horrific evil, on behalf of the public, then you have a moral obligation to do so.
- Expose and bankrupt San Francisco for being a corrupt, crony cesspool of insider quid pro quo, election rigging and Congressional manipulation. Get as many people as possible to leave the City, reduce it's tax base and dissolve it's political power. Punish it for using elitist cronyism to harm citizens and national public policy.
- Expose and bankrupt the Silicon Valley Cartel RICO-law violating monopoly Big Tech oligarchs
- Expose and bankrupt the crooked Big Tech law firms, CPA's, lobbyists and hit-job bloggers who do the dirty work for the Big Tech cartel and their White House stooges.
- Mass distribute all of the insider document leaks that prove the crimes and corruption of the Big Tech insiders.
- Expose all of their dirty deeds including: trillions of dollars of influence peddling between famous politicians and secret corporate and family accounts; money laundering; sex trafficking, hookers and 'executive sex clubs' like NXVIUM, One Taste, Moscow Lovelies, Rosewood hotel hookers, etc; killing teens by hiding teen suicides and mental health issues caused by T-mobile social media; family alcoholism; political bribery using pacs and dark money cash relays; stock market manipulations for their own insider trading; infidelities and spousal abuse as shown in their court records; organized media censorship by the Silicon Valley media cartel; misogyny and sex extortion of workers; fake tax exempt 'charities' that exist only for political money laundering; forcing "issues" on us that they covertly own the companies of; dynastic family manipulations of public policy; buying stocks in Dept of Energy funded projects that are then pumped-and-dumped for unjust wind-fall profits; election rigging using Google, Facebook, Youtube and their media cartel; search engine bias and shadow banning of competitors and reporters; big tech monopolies information manipulation; recession causing market anti-trust law violations; corporate hiring racism; Brotopia frat boy rape culture in their companies and offices; secret offshore shell corporations to hide money; venture capital NVCA funding black-lists; collusion between Sand Hill Road, Palo Alto VC's on finance black-lists, valuation prices and monopolies; patent thefts, USPTO bribes and attacks on small inventors; political payola using stealth real estate, fine art and jewelry holdings; graft via bribes with event tickets, dinners, tax waivers, vacations, pretend speaking contracts, etc; corrupt lobbyists who hire Fusion GPS, Gawker, Black Cube, Google and other character assassination services; White House 'plumbers'; and their use of our democracy as their play-thing...
Accomplishments: So far, in consequence, these bastards have suffered billions of dollars of stock market valuation losses; gotten fired; been sued; had almost every law enforcement and regulatory agency open investigations against them; had their staff leak their emails and documents; been connected to the Panama Papers and other leaks; been IRS audited; had their wives leave them over sex scandals; had their businesses go belly-up; been the subject of expose' books and documentaries... and it isn't over yet...
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Criminal politicians and their Silicon Valley oligarch financiers organized a felony-class 'enterprise' to exchange stock market shares, jobs, government cash, sex, exclusive public policy switcheroos and other corrupt actions. They put hit jobs on their competitors and whistle-blowers using government resources. Now those crooks need to be sued and have criminal referrals filed against them with the FBI, DOJ, SEC, FTC, GAO, FEC, FINCEN and Congress! The FBI, and other law enforcement organizations, define a "cartel" as: 'An association of industrialists and business firms organized covertly to establish a national, or international monopoly, by price fixing and ownership of controlling stock, to operate a trust or monopoly to reduce competition between themselves by allocating markets, censoring public knowledge, manipulating governments or controlling the price and production of a product or service.' The 'Stimulus Funds' and 'BBB' funds have been directed to benefit certain Senator's stock market accounts - DON'T LET THEM GET AWAY WITH IT!
This case is about a "cartel" which meets every aspect of that definition.
CUT-OFF STOCK MARKET OWNERSHIP/BRIBES BY ALL POLITICIANS AND THEIR FAMILIES!!
Plaintiffs demand a JURY TRIAL where the Judges and public officials have had a stock ownership report, investigated by securities forensic experts, proving that they, and their families don't own the stocks of, and get bribes from, the Defendants!
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WINNING! WE ALWAYS WIN OUR CASES!!!
This is your CITIZENS VS. CORRUPTION score-card and guess who is WINNING: WE ARE!
When we "WIN" our cases, it is not about getting money. It is about beating up the bad guys. We haveWON all of our anti-corruption lawsuits, cases and efforts.
When we sue/target corrupt public officials, or mobster big tech oligarchs, this is what we accomplished when WE WON:
1. We got major public officials investigated, fired, indicted, exposed, sued and shamed over their corruption.
2. We got multiple federal investigations launched, Congressional reports published and new laws made that jammed up their corruption.
3. We got national broadcast news segments produced on major TV shows, about their corruption.
4. We got evidence of their corruption permanently posted on court and judiciary servers for all of the public to see how their corruption works.
5. We got tens of thousands of news articles produced and published about their crimes (ie: Chu, Epstein, etc.)
6. We got a huge number of web tv segments produced and broadcast on everything from TIKTOK to YOUTUBE, about the crooks, globally.
7. We got their dirty tax records, secret accounts, hookers and other misdeeds exposed.
8. We exposed the networks of crooks that help the bad guys do their dirty deeds (ie: Panama Papers, Swiss Leaks, etc.)
9. We filed multiple lawsuits that shamed them and sent the forensic investigators and reporters right to their front doors.
10. We got corrupt City Halls, (ie: SF) and their dirty networks of insiders, exposed and made them lose their political power.
11. We got the cyber-assassin bloggers they hired to attack us, placed under surveillance for the rest of their lives and bankrupted their tabloid rags.
12. After Elon Musk hired attackers to "take us out" because we reported him to Congress, we returned the favor by helping get over 100 lawsuits and federal investigations launched against the scumbag tech mobster.
13. And more... (SEE THIS LINK: TO-KILL-A-GIANT)...
We have hunted down every single one of our attackers and had them: sued and/or bankrupted and/or arrested and/or indicted and/or fired and/or boycotted and/or exposed in books and documentaries and/or investigated by law enforcement, intelligence and regulatory agencies and/or placed under surveillance and/or financially tracked across all of their family trust funds, shell corporations, money-laundering and campaign finance accounts and/or targeted in Congressional investigations that we developed and/or removed from office and otherwise addressed for the rest of their lives.
WE HAVE NEVER LOST A CASE! WE HAVE A 100% SUCCESS RATE!
By comparing records and files from FINCEN, FBI, FTC, SEC, Congressional Investigators, ICIJ, FEC, Interpol, CIA, DOJ, ProPublica, and other sources, we have helped you easily see that political officials own Google, Tesla, Facebook, YouTube, Instagram, et al, (AKA "The Tech Cartel" or, in legal terms: "The Enterprise"). This explains why those companies have been exempt from regulation and prosecution. Those public officials (Senators, White House executives, Congress) and tech company oligarchs have exchanged millions, and millions, of dollars between themselves and their families for unjust gain via political profiteering.
They were all either financed by, friends, with, sleeping with, dating the staff of, holding stock market assets in, promised a revolving door job or government service contracts from, partying with, personal friends with, photographed at private events with, exchanging emails with, business associates of or directed by; our business adversaries, or the Senators and politicians that those business adversaries pay campaign finances to, or supply political digital search manipulation services to. Criminal U.S. Senators coordinated and profited in these schemes. Their own family members have now supplied evidence against them. You don't hear about this, much, in the "main-stream news" because nearly half of Congress, White House staff and government agency bosses own the stock in the news broadcasters and receive billions of dollars of financing from them.
Many witnesses, including us, have now sworn, warranted and certified to federal law enforcement about the details of these crimes. Many of those whistle-blowers were former executives in "The Tech Cartel'.
In all of recorded history, there has never been so much taxpayer cash given to so few people, where each, and every, one of the recipients was a friend of the politician giving away the taxpayer cash and everyone who got the cash immediately skimmed "unjust profits" and shut down the business. Almost everyone who was not a friend of the politician, was considered a competitor, and was attacked and sabotaged using state and federal resources. These are felony-class crimes that has cost taxpayers trillions of dollars in losses. Evidence proving this, as fact, many times over, has now been published.
How the main part of these schemes work: 1.) Politician (ie: Feinstein family members) buys stock in company "X" and it's suppliers based on insider tip... 2.) Politician rigs government money to go to company "X" (ie: Tesla or Solyndra)... 3.) Goldman Sachs & Google promote (pump) company "X" stock and skim fee's from the valuation increase...4.) Politician gets profits from the pumped stock value...5.) Politician rigs decision process so that no competitors to Company "X" are allowed to get government funds or help...6.) Politician gets service's "bills" from lawyers and consultant's that are padded hundreds of times over...7) Politician pays over-charged bills with government funds and lawyers put the extra money in real estate, search engines, sex brothels and other things that Politician can take ownership of later on...8.) Company "X" arranges for Universities and corporations to hire Politician for $300,000.00 "speaker fee's" and Netflix revolving door payola "Board Positions" that are really just bribery conduits...9.) Goldman Sachs relay's Politicians extra money to off-shore money laundering outlets... RINSE - REPEAT...
This is not about politics. It is about felony crimes! Some of your government representatives are business partners with America's biggest enemies and make decisions based on greed, not duty! Sue them, expose them, shame them for all of time!
