Although news content once propelled social media engagement and generated growth for various platforms, some newcomer social platforms have not been able to find a path to success, despite ample funding and initial excitement.
The latest social media site to shut down is Post, the news-centric social media app that billed itself as an alternative to Twitter and Facebook.
It will be shutting down in several weeks, its founder Noam Bardin announced on Saturday. Its demise, while reported in several technology publications, went largely unnoticed.
“It is with a heavy heart that I share this sad news with you,” Mr Bardin, the Israeli entrepreneur who previously co-founded the satellite traffic navigation company Waze wrote on the Post platform.
“We have done many great things together … but at the end of the day, our service is not growing fast enough to become a real business or a significant platform,” he said.
“A consumer business, at its core, needs to show rapid consumer adoption and we have not managed to find the right product combination to make it happen.”
In an interview with The National last year, Mr Bardin touted several advantages that he felt Post offered when compared to social media platforms such as X (formerly Twitter) and Facebook.
Post offered a way for publishers to utilise micropayments from users on the platform to generate revenue for the articles they posted.
Mr Bardin pointed to the micropayments as one of the elements of Post that succeeded, despite the lack of rapid growth.
“[Post] validated many theories around micropayments and consumers’ willingness to purchase individual articles,” he wrote on the platform’s forthcoming closure.
“We even managed to cultivate a phenomenal tipping ecosystem for creators and commentators.”
Last year, Mr Bardin said Post had approximately 500,000 users which pales in comparison to Facebook’s approximately 2.9 billion users and X’s 300 million to 500 million users.
Another differentiator promoted by Post was its content moderation process, which Mr Bardin said was a major priority. It used both human and technological approaches to maintain its terms of service which sought to maintain civility and a diversity of opinions.
“When you go on the social media platform and you have an opinion, you should have the ability to state your opinion without being attacked personally,” he said.
Mainstream success remains elusive for newer social platforms
The Post platform was created amid the backdrop of Elon Musk’s purchase of X and attempted to gain traction amid an overall social media re-evaluation of news content from Meta, owner of Facebook, Instagram, Threads and WhatsApp.
Meta made it a point to de-prioritise news content on Facebook timelines and recently gave users the option to opt out of political content on Instagram in some countries.
Post, alongside other relatively new social media platforms such as Forth and BlueSky, sought to do the opposite by prioritising news and making news articles vital features.
The results, however, have been tepid compared to incumbent social media platforms enjoying mainstream success.
Artifact, an AI-infused news curation app, created by Instagram co-founders Mike Krieger and Kevin Systrom recently announced it was closing.
While popular in certain circles, the platform never gained the base to enjoy long-term success, and the creators said they didn’t see a sustainable business model to keep it afloat.
“We have built something that a core group of users love, but we have concluded that the market opportunity isn’t big enough to warrant continued investment in this way,” read a message posted by Artifact on Medium.
“It’s easy for start-ups to ignore this reality, but often making the tough call earlier is better for everyone involved. The biggest opportunity cost is time working on newer, bigger and better things that have the ability to reach many millions of people.:
Several days after the announcement, Yahoo acquired Artifact, though it remains to be seen exactly what Yahoo plans to do with the technology.
For both Post and Artifact, statements from both companies had the common theme of not being able to scale quickly enough to generate a viable business model. Both platforms also emphasised news, rather than miscellaneous viral video or photo content.
Hints of success for other platforms
Other social media start-ups, such as Vero, have not necessarily put news front and centre, but rather, focused on photography, musicians and videographers to some degree of success.
That platform, which launched in 2015, has about six million users, according to co-founder Ayman Hariri, who lives in Dubai.
Last year, Mr Hariri announced the company's plan to launch subscription services to use the platform. It also acquired Tokenise Stock Exchange International Ltd, which Mr Hariri said would allow the platform to create a shared value between Vero and its users.
Regardless, Vero has proven to be among the more resilient newer social platforms in recent years.
“We want this to be community-owned,” he said in an interview last year. “We want to be fully regulated … when you look at any creator community, the creators provide enormous equity value they never have access to, and what we want to do is to allow for creators to unlock ownership in the platform at scale for the value they're bringing.”
As for Post and its founder Mr Bardin, there could likely be other ideas out of its demise, albeit in the form of different apps and solutions.
“We hope to see you again on our next missions,” the last line of his email to Post users read.
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Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
Top investing tips for UAE residents in 2021
Build an emergency fund: Make sure you have enough cash to cover six months of expenses as a buffer against unexpected problems before you begin investing, advises Steve Cronin, the founder of DeadSimpleSaving.com.
Think long-term: When you invest, you need to have a long-term mindset, so don’t worry about momentary ups and downs in the stock market.
Invest worldwide: Diversify your investments globally, ideally by way of a global stock index fund.
Is your money tied up: Avoid anything where you cannot get your money back in full within a month at any time without any penalty.
Skip past the promises: “If an investment product is offering more than 10 per cent return per year, it is either extremely risky or a scam,” Mr Cronin says.
Choose plans with low fees: Make sure that any funds you buy do not charge more than 1 per cent in fees, Mr Cronin says. “If you invest by yourself, you can easily stay below this figure.” Managed funds and commissionable investments often come with higher fees.
Be sceptical about recommendations: If someone suggests an investment to you, ask if they stand to gain, advises Mr Cronin. “If they are receiving commission, they are unlikely to recommend an investment that’s best for you.”
Get financially independent: Mr Cronin advises UAE residents to pursue financial independence. Start with a Google search and improve your knowledge via expat investing websites or Facebook groups such as SimplyFI.
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UAE currency: the story behind the money in your pockets
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
Ticket prices
General admission Dh295 (under-three free)
Buy a four-person Family & Friends ticket and pay for only three tickets, so the fourth family member is free
Buy tickets at: wbworldabudhabi.com/en/tickets
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Dubai World Cup draw
1. Gunnevera
2. Capezzano
3. North America
4. Audible
5. Seeking The Soul
6. Pavel
7. Gronkowski
8. Axelrod
9. New Trails
10. Yoshida
11. K T Brave
12. Thunder Snow
13. Dolkong
Sreesanth's India bowling career
Tests 27, Wickets 87, Average 37.59, Best 5-40
ODIs 53, Wickets 75, Average 33.44, Best 6-55
T20Is 10, Wickets 7, Average 41.14, Best 2-12
