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02.06.2015
Now the company is thinking about pivoting, a person with knowledge of the plans tells Business Insider. We've also heard that an incubator isn't likely, but the company is definitely trying to think about how to iterate the product.
Secret was co-founded by David Byttow, a former Google and Square engineer, and Chrys Bader-Wechseler. Silicon Valley took to Secret instantly, and news about major tech companies began to break on the application before it was announced on Twitter or traditional news outlets. People who have worked with Byttow previously also say he's not the best manager and there was a lot of drama when he departed Square.


It's not clear how much money Secret has in the bank to figure itself out, but it certainly seems to be exploring lots of options. One possibility that was floated was a startupA incubator, whichA would allow Secret to test new ideas and see what sticks, a source explains. The pair launched an anonymous gossip-sharing application in January 2013 that resembled another popular mobile application, Whisper.PinterestIt sounds like Byttow doesn't need to want a Ferrari anymore. Secret raised an $8.4 million series A round of financing in March 2014 and then raised a $25 million series B round in July.
Companies including Yo, Ello, and Turntable all experienced a lot of buzz when they launched but quickly realized media buzz and actual traction are two very different things.


During the series B round, Byttow and Bader-Wechseler exchanged some of their stock for $3 million each. The company began working on other app ideas and in December, it pivoted the app to look a lot like Yik Yak, an anonymous, location-based microblogging application.



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