Today I received word from founder and CEO, George Favvas, that he’s shutting down SmartHippo, a community site for personal finances, specifically around mortgages. Here’s George’s message:
We regret to inform you that SmartHippo in its current form plans to shut down as of August 31. While we have played an important role in bringing transparency to the personal finance space, we ultimately were not able to translate this into the commercial success we had envisioned.
We continue to explore opportunities for the SmartHippo assets. We believe this can be a great opportunity for a lead aggregator, finance portal, or online lender.
In the meantime, George has moved on to start a new company, Rewardli, which is based in San Francisco and participated in the 500 Startups incubator. There’s a lot of early buzz around Rewardli, and it will be great to see how the business evolves and grows.