Despite having the best company name in the style startup game, Fashism, is taking a trip to the big incubator in the sky. Not even a joint investment from Ashton Kutcher and Demi Moore could save the outfit-sharing service. Full email below:
We have some disappointing news to share. After 4 amazing years, we have decided to shut down the Fashism website and apps at the end of this month. Although you guys are an amazing and engaged community, we have not been able to generate enough revenue to keep Fashism up and running.
We started Fashism four years ago because the internet needed a safe space to get unbiased, excellent advice on fashion and beauty choices. Like many people, we love getting that little extra bit of reassurance on our style choices from peers, whether they be friends, family, or a loving worldwide community of fashionable strangers on the Internet! And that's exactly what we created.
Getting to work full-time on this company over the last few years has been a dream come true, and obviously it would not have been possible on our own. The entire Fashism team and our group of investors have been absolutely amazing and we are eternally grateful for their support. But most of all, we want to thank all of YOU for helping to create this awesome community. Thank you for posting your photos, revealing your latest finds, showing off your style, giving great advice, and being part of this adventure.
Brooke and Ashley
It's not a good omen for celeb-backed startups—perhaps we'll need to question the premise that famous people make inherently sound business decisions. The fact that the "joint" investment was made by a marriage that went on to collapse couldn't have made Fashism's four year life any easier.