September 17, 2023 at 3:50 am

After Being Valued At $1.2 Billion, Social Media App “IRL” Has To Shut Down Because Most Of Its Users Were Bots

by Trisha Leigh

Source: IRL/Instagram/@beenverified

A lot of the current big social media options have started to show themselves as problematic, which opens the door for other social apps to potentially be the next big thing.

People are looking for somewhere to go, but if you were thinking IRL might be the spot for you, you’ll have to think again.

Unless you’re a bot.

Source: Instagram/@beenverified

Image Credit: Instagram

IRL was once valued at around $1.2 billion, but after an internal investigation found that an incredible 95% of its users were automated bots, they’re shutting down.

The company had raised nearly $200 million in investments while boasting 20 million users. It’s CEO, Abraham Shafi, was suspended amidst claims that the number was grossly inflated.

A spokesperson for the company spoke with The Information.

“Based on these findings, a majority of shareholders concluded that the company’s going forward prospects are unsustainable.”

Source: Instagram/@2ndtimefounders

Image Credit: Abraham Shafi

In October 2022, Shafi talked to Forbes about what he considered special about the company.

“If you look at the Internet, there’s so much research around social media creating more separation and creating more walls and otherness. What we’re focused on with IRL… is helping more people be together, become friends, or build community off of shared interest. It’s the exact opposite of otherness.”

This is honestly a little bit impressive, if we’re telling the truth.

Although all weird things do eventually have to come to an end.