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Gfycat is shutting down September 1st
(gfycat.com)
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this post was submitted on 02 Jul 2023
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I guess it's just impossible to make these types of large media storage sites profitable. The business model itself is inherently unprofitable despite there being a need for these sites. Like youtube will never bring a cent back to google, but they keep running it because it locks people into their ecosystem for data harvesting.
Could also be that snap bought gfycat just to kill it.
Storage is just the loss leader of the internet, really. Companies will take the loss for access to the data.
And hosting