Hardbacon, a Canadian budgeting app that generated revenue through lead generation and affiliate marketing, has shut down after tweaks to Google's search algorithm saw users plummet.
The firm has been releasing employees and cutting expenses to the bone in an attempt to stay afloat following a September 2023 update to Google's search algorithm that resulted in a 97% decline in traffic to the site.
Hardbacon founder Julien Brault explains: "This means our traffic went from 350,000 per month in September to around 50,000 per month at the time of writing."
The firm has suspended operations and will declare bankruptcy in the coming days.
"It is possible that third parties may purchase some of our assets from the trustee," writes Brault. "If that happens, Hardbacon might have a second life. At least, I hope so, because it would be a shame for our app, our thousands of articles, and our calculators (which have become impossible to find on the web) to become completely inaccessible."