In a move that seemed all-too predictable, Yik Yak has fired more than half of its staff. According to the Atlanta Journal Constitution , the local startup laid off 30 of its 50 employees on Thursday.

Since it began in 2013, the company behind the purportedly anonymous messaging app has never had, and still doesn’t have, any obvious source of meaningful revenue. Yet somehow, Yik Yak was valued by venture capitalists at $400 million in December 2014 after Sequoia Capital invested $62 million.

In a Thursday statement sent to numerous media outlets, CEO Tyler Droll said:

We recently made some strategic changes at Yik Yak in line with our key areas of focus for the company. Unfortunately, as part of that we had to make the difficult decision to lay off a portion of the team. We are incredibly appreciative of their contributions toward making Yik Yak the special place for college students around the world that it is today.

The Yik Yak app allows users to post anonymous or pseudonymous messages restricted within a certain GPS radius. While many of the messages are silly or goofy, the app often results in a cesspool of hateful speech. (In January 2015, the podcast Reply All did an entire episode about racist Yik Yak messages at Colgate University.) Yik Yak formally disabled the app on many high school campuses, while many universities tried to mitigate its prevalence.

Throughout 2015, Yik Yak came under increasing scrutiny as more and more people were using it to post violent, threatening messages that often lead to run-ins with the law.

In October 2015, 72 women’s and civil rights groups asked for the Department of Education’s help in protecting students and faculty from abusive speech and threats made on university campuses via the Yik Yak app.

Earlier this year, Yik Yak began pushing users toward handles, at one point making them mandatory. However, as of mid-November, they became optional yet again.