Mobile photo sharing application PicPlz will be shutting down on July 3rd. PicPlz made the announcement on their website:
On July 3, 2012, picplz will shut down permanently and all photos and data will be deleted. We have provided download links for existing users to save their photos. Thank you for your support of picplz and we apologize for any inconvenience this may cause you.
PicPlz competitor, Instagram grew by leaps and bounds and was acquired by Facebook. PicPlz spun out of Mixed Media Labs, a smartphone app development company.
PicPlz co-founder Dalton Caldwell said that the team is working on other projects in operation.
As a board member I have been supportive of the strategic decisions they have been making.
In terms of this specific move, as has been stated before, the team that is operating picplz has been bootstrapping (ie not raising money). As part of this bootstapping effort, they recently launched a a paid iPad app for Pinterest users called pinflip: https://app.net/pinflip
pinflip has been doing very well and is currently the #5 paid iPad app in social networking in the US.