Menshn, the social media network set up by Louise Mensch and Luke Bozier, has closed down following a strained relationship between the pair.
In a statement on his blog, Bozier said: “Louise and I no longer have anything resembling a working relationship, and she no longer wishes to run a company in which I own shares.
“I think we call this sort of business practice summary justice. Louise is judge, jury and god all rolled into one, and made a sweeping knee-jerk business decision based on something written online by a malicious hacker. Alas, I am forced to agree that we don’t have a basis for a working relationship, and frankly no longer wish to hold shares in a company she runs.
“Menshn still has a dedicated community of users, and I thank them for their dedication. I’m sorry we weren’t able to turn it into something more sustainable. The idea – Twitter for topics – is a sound one and will be done very successfully by somebody else one day.”
Bozier resigned as a director last month, on 17 January.
On Menshn, Mensch revealed: “Apologies to all for absence over the last couple of weeks, it was due to my taking legal advice. I was and am limited in what I can say due to contempt of court laws applying.
“When Luke resigned in December, he assured me he would transfer his share to a beneficiary, and I gave interviews on that basis, believing it to be true.
“We made plans to develop and grow menshn based on this. Luke recently announced that contrary to assurance he was retaining his share. I cannot work with Luke, and saw no prospect of investment under those. As sole director I had to take legal advice (hence the delay) and respect contempt of court laws too. I will now petition for the company to be wound up on a just and equitable basis.”
She added that the site will be left up for a little while in order for members to exchange details.