Harnessing the popularity of Twitter as a virtual watercooler for journalists, Post News entered the scene shortly after Elon Musk’s Twitter acquisition. Founded by Noam Bardin, former CEO of Waze, the microblogging site aimed to revolutionize the way publishers and writers monetize their content. Instead of subscribing to multiple publications, users could purchase individual articles from partner outlets. However, despite the backing of Andreessen Horowitz and tech commentator Scott Galloway, Post News announced its closure after just a year and a half in beta.
Bardin candidly admitted that the service failed to gain enough traction to become a sustainable business or a significant platform. In his statement, he acknowledged the importance of rapid consumer adoption for any consumer-driven business. Bardin recognized that finding the right product combination was crucial, and unfortunately, Post News couldn’t achieve that.
Nevertheless, Bardin believes that Post News made significant strides in validating theories around micropayments and consumers’ willingness to purchase individual articles. The platform also introduced a feature that allowed users to tip writers for their work. These experiments highlighted the shifting media landscape, where independent and worker-owned publications are gaining ground. Platforms like Substack, Beehiiv, and Ghost are hosting an increasing number of these publications.
Although Post News attempted to capture this nascent movement in a social platform, it may have been premature in its approach. Other Twitter alternatives emerged around the same time, aiming to attract users dissatisfied with Musk’s ownership decisions. However, Post News managed to survive for over a year after its launch, defying the odds in a tough industry.
The closure of Post News serves as a reminder that social media is a challenging business. Attracting users to a site is one thing, but retaining their loyalty is an entirely different challenge. Many users may flock to a platform momentarily but quickly move on to other options that better meet their needs.
In conclusion, Post News’s closure sheds light on the complexities of the digital news landscape and the difficulties faced by social media platforms. While its attempt to monetize individual articles and support independent publications was commendable, it ultimately fell short of becoming a sustainable business. The experiences of Post News provide valuable insights for future ventures in the ever-evolving media industry.