Business • Entrepreneurship & Startups

Pendect is ceasing operations on April 19th

Pendect is ceasing operations on April 19th
Credit: Illustration by Ashley Winkler for Pendect (Creative Commons Attribution ShareAlike 4.0)

Pendect, the community-sourced TL;DR news platform, is ceasing operations on April 19th. The company, which was founded in September 2019, stated that the platform would shut down due to "many challenges due to Covid-19 and an increasingly difficult capital-raising environment."

"We are grateful to all the people who participated and contributed to the community and to our investors who believed in the idea of an open-source news platform. We truly believe that the current news environment needs a makeover, a fresh perspective and an open, community-sourced and diverse approach – and we would have loved to fill that gap in the industry. Shutting down Pendect was one of the hardest decisions we as a team had to make but one we had to make," the founders said in a statement.

And on a more personal note:

To all the Pentributors, readers, followers, investors and, especially, to my two lovely co-founders CJ & Érico. Thank you for being my business partners, my supporters, my rocks. This journey, while exhausting and demanding, was beautiful and so much fun. I've learned a lot. I hope you have too – all of you!

Thank you and good night!

Highly edible human, designer of all things digital, co-founder of Pendect, creative native, constant wa/onderer, morse code lady, full-time dog pillow.
Card reviewed by: @ericof