Digital media startup The Messenger has decided to shut down operations less than a year after its high-profile launch. The shutdown was announced by owner Jimmy Finkelstein, have a look at his net worth and wife
The closure of The Messenger was announced by owner Jimmy Finkelstein in an email sent to staff on Wednesday afternoon, expressing personal devastation and citing exhaustive efforts to secure funding.
Who is Jimmy Finkelstein owner of The Messenger which is shutting down, net worth, bio, age, family, wife and education
76-year-old Jimmy Finkelstein was born in 1948 to Jerry Finkelstein. He graduated from New York University with a bachelor’s degree. He is married to Pamela Gross.
While his net worth isn’t known, Finkelstein sold The Hill, a D.C.-based political newspaper, to Nexstar in August for $130 million and his paid $5.6 million for a condo in West Palm Beach. $50 million were spent on The Messenger.
You don’t have to love Jimmy Finkelstein to wonder, “Hey, he spent $39 million on salaries and this is what he gets? Maybe I’ll think about setting my money on fire in another industry!” pic.twitter.com/A4bIkVAlqx
— Shohei O’Haunty (@brianpmoore666) February 1, 2024
Jimmy Finkelstein is a businessman who served as Chairman of The Hill, President & CEO of News Communications, Inc., and Advisor at BPGC Management LP. Mr. He has previously held numerous positions including, Chairman of Prometheus Global Media LLC, President of Marquis Who’s Who LLC, Founding Partner of Avista Capital Holdings LP, and Chairman of Thompson Publishing Group, Inc.
Jimmy Finkelstein’s latest news
Jimmy Finkelstein delivers news of the shutdown to staff: pic.twitter.com/fNzHkigSEP
— Ben Mullin (@BenMullin) January 31, 2024
What adds to the dismay is the revelation that The Messenger employees were not informed before the news broke. Even after The New York Times first reported the shutdown, sources revealed that many staff members were still in the dark about the fate of their employment.
The sudden takedown of the site’s Slack channels further exacerbated the confusion among employees. The lack of a structured communication plan during such a critical moment can intensify the distress for those affected.
What’s particularly troubling is the absence of any severance plans for the impacted employees, along with the discontinuation of health insurance benefits. Finkelstein mentioned in the farewell email that the HR team would follow up with everyone in the coming days, aiming to address the myriad questions arising from the sudden closure.
Adding to the chaos, the replacement of The Messenger’s homepage with a blank screen and an email address suggests a hasty shutdown. Employees are now left wondering about the fate of their work, with uncertainty looming over whether their journalistic contributions will be accessible in the future.
The financial struggles of The Messenger were apparent in its attempts to secure funding in the weeks leading up to the closure. Despite Finkelstein’s initial boasts of raising $50 million for the startup, the company found itself grappling with a dire financial crisis. The ambitious promises of bringing in massive traffic and eye-popping revenues seemed increasingly unattainable.
The turbulent nine-month run of The Messenger was marked by internal challenges, including clashes with President Richard Beckman and tensions over the editorial direction. Journalists grew frustrated with the site’s emphasis on clickbait and sensationalized headlines, leading to several editors resigning soon after the launch.