They had a vision and goal to change social media, to get people away from Big Social. They haven't failed in the technical sense of closing, there are less than 1.5M daily (the stats trackers are starting to shut down), but they will also never fulfill on the promises. In the startup world, this is called a zombie company.

One way they failed hard is that they talked about how they were against the investors and VC incentives, then they took $100M from Bain Capital (PE) just after peak user count, but didn't tell us for almost a year. They could have put up a simple $5/month to support the cause, but they took investor money instead. This is why I left.