Hey everyone, I'm disheartened to share that we've come to a decision to close down @samudaixyz, it was one of the hardest decisions we had to take. Though its not the outcome we wanted, I know we gave it our all and realize its time to turn a page to the next chapter. I'm thankful to everyone who we crossed paths with throughout this journey and grateful to have met and known you. Please read the last investor update below. ----------- Dear Investors, After careful consideration and a lot of conversations with every one of you, we’ve finally come to a decision to shut down Samudai. August 2024 will be the last operational month and all the user data will be deleted thereafter. I’ve been postponing writing this email for a week because I just wasn’t able to bring myself to write it, and even when I did, no words came to me. Even after the reasons mentioned in the last email, it was really difficult to power through the emotional baggage and pull the trigger. I am really grateful to each and every one of you for your continued support and belief through thick and thin. Below are some important items regarding next steps: 1. I am linking below the profiles of the team members at Samudai. I humbly request you to circulate them in your network and portfolio companies so these talented individuals can get opportunities as quickly as possible. Riyanshu Patro (Frontend Engineer) - @riyanshupatro Venkatesh Saravanan (Backend/Web3 Engineer) - @venkyyy1312 Vansh Kapoor (Backend Engineer) - @0xVanshk 2. [Redacted] 3. We have already communicated the same to our existing customers and will be supporting them and if necessary, help them transfer to an alternate product so their campaigns are not hampered. 4. We are on the lookout for organizations who are willing to buy the software we wrote, if you have someone in your network, we would love to connect. [Redacted] 5. [Redacted] Over the last 2 years we developed multiple products like Samudai Community OS, Points OS and XCaster, all of which were used by well known organisations across the industry. But it seems that due to evolving needs of the market and personalised requirements of web3 organisations, DAO tooling market was not a sustainable one at the time. I am still very bullish on DAOs and believe that it is one the very few non-skeuomorphic offerings of web3 when compared to web2, we just lack in its implementation as of now. And Points is a solid meta, something that will enable much needed gamification and has the potential to shape the human-application interactions in web3. The entire journey has given us a lot of learnings and I will be sharing them in a detailed thread soon. I am once again thankful to you for your faith in us, and though I realize that we made a lot of mistakes along the way, I am grateful for your patience with us. It has been a pleasure to learn from all of you and I consider myself really lucky to have faced the challenges that I could only have dreamt of. I look forward to connecting with all of you IRL and hopefully we get a chance to work together again in the future. Thank you! Regards, Kushagra Agarwal Founder, Samudai