Yahoo had just launched their social savings app Tanda this January and recently they announced in a blog post that Yahoo Finance will shut down the App starting this May 29.
Tanda was made as an alternative to credit cards. This app was made for a small group of people to save money together, yet the market seems unconvinced on using this app. Even though it was installed 37,000 times, the app is not listed in the top 1,500 in the Finance App Category according to Sensor Tower’s data.
Yahoo sent an email to Tanda users, and will make sure to refund all the funds they owed.
Yahoo also refused to give any comment about the app’s shutdown.