Thousands of you agreed to spend $5 a month (and sometimes more). But the second part proved difficult. Reading behavior on the Web is incredibly fragmented. Nobody reads from just 15 or 20 sites a month. People read from hundreds of sites a month, creating a vast long tail of publishers.
And the great majority of those publishers never registered. Out of the millions—yes, millions—of domains that flowed through Readability, just over 2,000 registered to claim their money. As a result, most of the money we collected—over 90%—has gone unclaimed. As of today there’s nearly $150,000 in earmarked money sitting in a separate, untouched bank account.
Amazed that 90% of Readability’s user contributions over however many years only amounted to $150,000. No wonder they killed it.