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News Byteannounced in a blog post on Friday. While massively popular in the startup’s early days, Formspring failed to continue growing its user base and engagement, despite hosting more than 30 million people on its platform. “While we’ve had great success in reaching a broad audience, it’s been challenging to sustain the resources needed to keep the lights on,” founder and CEO Ade Olonoh wrote. The news was first reported by TechCrunch.