Formspring to shutdown on March 31st

Social network Formspring will shutdown operations come March 31st, according to an official blog post on Friday, March 15th.

Formspring, the pioneer in Q&A social network format, can no longer “sustain resources” to keep the company running. This is how Ade Olonoh, founder and CEO of Formspring, explained why they’re closing the startup website.

The closure is on March 31st but users can still export all their data until April 15th.

Launched in November 2009, Formspring grew to over 30 million registered users with 4 billion posts.

Prior to this official closure blog post, there have been rumors in the recent months that Formspring had been suffering financially. Reports said they had made internal cuts on their staffs. Its COO Ro Choy also resigned months before this announcement.