Secret

Secret was an anonymous social sharing app that raised $35M and was valued at $100M within a year of launch. The concept—share secrets anonymously with friends—generated viral interest but also cyberbullying, harassment, and defamation. User retention cratered as the novelty wore off and the content became increasingly toxic. Co-founder David Byttow returned $2.7M to investors and shut down the company. Multiple anonymous social apps (Whisper, Yik Yak, Sarahah) followed a similar trajectory: viral launch → toxic content → declining engagement → shutdown.