Juicy Campus to Shut Down

Who would have thought, a year ago, that any site with that number of users would be shutting down.

I too have seen ad revenues decrease 3-5x on my site. Are websites that don't sell a product no longer viable?

Seems like such a waste to see a popular website just die without anyone to keep it alive.

EDIT: I was just reading the gossip on my campus. Good riddance.

Could someone with more business experience than I elaborate on this? Is it really just because ad revenue is down, or was the company mismanaged? My impression of this site was that it was widely successful. I know that it had definitely broken into the mainstream (known among the average college population), which is a huge milestone.