Interactive platforms and media platforms that have come under fire for what they’ve described as their inability to build a more socially-conscious product and a more user-friendly platform for their audience.
In a joint statement released on Wednesday, Lon, a platform built by former AOL founder Steve Case, and Lany, a content management platform, said they have begun “the process of shutting down operations as we begin the transition to a completely different business model.”
“The Lany team has been working diligently to move forward with Lon and Lon will continue to operate independently as we transition to the new business model,” they said in the statement.
“Our community of Lon users and Lons fans has supported us for years and LON will continue as a place to connect, connect, and connect.”
The statement did not give details about the closure of the two companies.
Case told The Globe and Mail he left Lon in August, and the platform has struggled to survive financially, having lost money for the past two years.
But Lany has found support from the tech community, including former Google executive and tech investor John Mueller, who has invested in Lany.
Case is also said to have offered Lany investors a loan of up to $1.5 million.
The platforms have struggled to retain users and build a community.
In June, Lany announced it had reached 1.3 million active users.
Lany said it was in talks with Facebook about a deal that would see it integrate with the social media giant’s platform.
But Facebook has declined to comment.
Lon has also lost some investors, including Sequoia Capital, which invested in Lon in June.
Case has been criticized for the platforms slow growth and for failing to do more to connect with users and attract new users.
In the statement, Lon and Lon said they are “actively working to find the next business models for our community.”
Lon was founded in 2013 and has had two products.
Its first product was an interactive app called “Lon Stories,” which allowed users to create interactive stories that linked the world’s news, politics, culture, and people.
Its second product, called Lon Stories Lite, offered a more traditional platform that provided video and audio clips for Lon stories.
But it also has more social features, including a new feature called LON Stories on YouTube, which allowed people to upload their own videos and comment on them.
In August, the company said it would shut down Lon and will no longer offer any products.
The platform is still available on Facebook’s app store and other online platforms.