Juicy Campus' Founder and CEO, Matt Ivester, had this to say in an open letter about today's sad news, "Unfortunately, even with great traffic and strong user loyalty, a business can't survive and grow without a steady stream of revenue to support it. In these historically difficult economic times, online ad revenue has plummeted and venture capital funding has dissolved. JuicyCampus' exponential growth outpaced our ability to muster the resources needed to survive this economic downturn, and as a result, we are closing down the site as of Feb. 5, 2009."
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Ivester also writes, "We've expanded to more than 500 campuses across the US, and have more than a million unique visitors coming to the site every month." According to Compete, however, Juicy Campus had 146,00 unique (and anonymous) visitors in December which is a drastically lower number. Maybe traffic isn't to blame - apparently anti-cyberbullying campaigns may have actually lead to increased traffic last year - but Juicy Campus apparently can't continue to survive on hear say and gossip alone.