Houston-based personal financial management site Rudder has shut down, telling members "business has simply become unsustainable".
Launched in 2008, Rudder hit the headlines last year when a security lapse saw it inadvertently expose the private account details of hundreds of individuals.
Now, in a notice to members, the company has confirmed it is the latest PFM site to shut up shop because "Rudder as a business has simply become unsustainable". All user data on its servers was permanently deleted this week and "will not be shared, sold, or divulged in any way".
Despite much hype and the $170 million acquisition of market leader Mint by Intuit last year, several PFM sites have struggled to make money. In July, pioneer Wesabe was forced to shut down its operations after running out of cash while UK-based start-up Kublax has also closed due to cash-flow problems.