Nadhani says the company couldn't find a way to become profitable over the long tern due to competition from a number of high quality free apps available from Apple, Google, and Microsoft.
It was a tough business decision. We explored various business models but couldn’t successfully figure out profitability & growth over the long term. It was hard; the market for premium consumer mail apps is not big enough, and it faces stiff competition from high quality free apps from Google, Microsoft, and Apple. We put up a hard and honest fight, but it was not enough to overcome the bundling & platform default advantages enjoyed by the large tech companies.
New signups have been disabled and monthly subscriptions will not be renewed. Those with an annual subscription will be refunded on a pro-rata basis. Instructions to claim pro-rata refunds will be published no later than September 18th, 2018.
"To our users, we sincerely thank you. You are the reason we worked tirelessly to create the best email experience. To the press, critics and partners, we are eternally grateful for all the support and valuable feedback that has helped us improve Newton over these years. We hope to cross paths again in the future."
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