Ding, dong, Juicy Campus is dead.

It seems even the slimiest of web gossip websites cannot seem to make the cut in these economic times. JuicyCampus.com (which the Sexist wrote about here) is shutting down tomorrow, according to a press release sent out just after 12:30 p.m. today.

From Matt Ivester, Juicy Campus founder & CEO:

“Unfortunately, even with great traffic and strong user loyalty, a business can’t survive and grow without a steady stream of revenue to support it.  In these historically difficult economic times, online ad revenue has plummeted and venture capital funding has dissolved.  JuicyCampus’ exponential growth outpaced our ability to muster the resources needed to survive this economic downturn, and as a result, we are closing down the site as of Feb. 5, 2009.”

Full letter after the jump.

JUICYCAMPUS COMES TO AN END

Open Letter From JuicyCampus Founder

Juicy Campers,

What a wild ride this has been!  In the past year and a half, JuicyCampus has become synonymous with college gossip, and is more popular than I could have ever expected.  We’ve expanded to more than 500 campuses across the US, and have more than a million unique visitors coming to the site every month.   It’s clear that we have provided a platform that students have found interesting, entertaining, and fun.

Unfortunately, even with great traffic and strong user loyalty, a business can’t survive and grow without a steady stream of revenue to support it.  In these historically difficult economic times, online ad revenue has plummeted and venture capital funding has dissolved.  JuicyCampus’ exponential growth outpaced our ability to muster the resources needed to survive this economic downturn, and as a result, we are closing down the site as of Feb. 5, 2009.

On behalf of everyone here at JuicyCampus, I would like to thank all of our users for reading, contributing to, and telling your friends about the site.  And I’d like to thank everyone who has engaged in meaningful discussion about online privacy and internet censorship.  JuicyCampus has raised issues that have passionate advocates on both sides, and I hope that dialogue will continue.  While there are parts of JuicyCampus that none of us will miss – the mean-spirited posts and personal attacks – it has also been a place for the fun, lighthearted gossip of college life.  I hope that is how it is remembered.

Keep it Juicy,