BetaKit Shutters, Absorbed by Financial Post

Startup technology publication BetaKit has shut down after only one year of operation.

BetaKit is merging with the Financial Post, much like Sprouter did two years ago when it was dismantled after five years of losing money. The publication’s website now automatically redirects to FP Startups, which has caused hundreds of BetaKit article links to result in 404 errors on the Financial Post’s website.

Further, BetaKit has abandoned its 6,700 Twitter followers and 35,000 mostly India-based Facebook fans; the publication has not posted to either social media outlet since last week, and did not mention its shutdown via these channels.

Both companies were founded by Sarah Prevette, who left BetaKit and Postmedia in January and will not continue on with Postmedia, which owns the Financial Post. Neither will Erin Bury, who served as BetaKit’s managing editor.

Financial Post publisher Douglas Kelly today told Marketing Magazine that neither Sprouter nor BetaKit were able to drive sufficient revenue to sustain themselves.

Last year, Prevette touted BetaKit as the next major news brand in tech: “BetaKit has far bigger plans than just becoming the next TechCrunch,” she told the Toronto Standard.