After The Founders Pocketed $6 Million, Gossip App Secret Is Flopping

Earlier this year, gossip app Secret was gaining traction.

It raised two rounds of funding including a $25 million round that valued the company at $100 million in July. During that last round, the cofounders pocketed $6 million.

(In contrast, Secret's competitor Whisper has raised $60 million and the CEO hasn't taken any money off the table.)

Now, Secret is flopping, and according to Carmel DeAmicis at GigaOm, it could announce major product changes this week.

Secret is an app that allows people to anonymously talk about their problems, their sex lives, and gossip about the technology industry.

There was a fair amount of news that broke on Secret - Nike shutting down its fitness tracker, Rap Genius raising money, and a few other stories started on Secret.

But, the app led to bullying and bad behavior. Secret tried to restrict that stuff. It stopped people from including real names. Amicis suggests that Secret lost its mojo when it introduced new controls to prevent bullying.

What's next? It's unclear, but Secret's founder says something new is coming really soon.

Here's a chart that shows Secret's popularity tanking. Read more over at GigaOm >