Waves social networking platform, which has been around since 2009, announced on Tuesday that it would shut down by the end of the year.
The company had been running on a beta test version that was only accessible to its staff.
In a statement to Wired, Wave said it was shutting down due to the “unforeseen circumstances”.
“In light of the significant impact this has had on the company and our team, we have made the difficult decision to shut down the service,” it said.
The shutdown comes a few months after the Facebook-owned social network said it would stop selling access to its mobile app, Facebook Messenger, and other features, which are considered “essential”.
Facebook’s mobile app has been a popular source of social networking.
Facebook, Facebook, WhatsApp, Instagram and WhatsApp all use the Facebook Messenger app.
The social network’s social media presence has also been hit hard by the ongoing FBI investigation into the company.
“While we continue to focus on our mission to protect the privacy of all our users, we are continuing to work to make sure we are working as efficiently as possible,” Facebook said in a statement.
“We’ll be sharing more details as we get closer to shutting down.”