The social network Punch, created with the support of Sberbank, has closed down.

Created with the support of the Sber Entertainment company (part of Sber), the social network Punch, in which it was possible to create and promote music, has ceased operation. Users had two weeks to download all the content they created from Punch.

“Our team has gone through all the phases of denial, but today we are forced to accept that we will not be able to further support the project. Briefly about the reasons – in the current video platform market it is very difficult to remain an independent project. Despite the constant growth of authors and the amount of content, it was not easy for us to scale viewers. Growth slowed down, and this predetermined the fate of the project,” says a message posted on Telegram channel social network.

The publication of new content in Punch was limited from January 17; on January 31, the social network officially stopped working.

Punch, which was created in the summer of 2022, allowed you to create your own music using ready-made beats, audio effects and a neural network that generated song lyrics based on a few words. According to RBC, among the creators of the social network were people from Yandex, Dmitry Ushanov and Vitaly Grigorash, as well as Alexander Samborsky and Boris Maleev from Gazprom-Media. The financial indicators of the social network and the number of its users have never been disclosed.

At the same time, another social network, Chipz, also created with the participation of Sberentertainment a year and a half ago, will continue to operate and there are no plans to close it. Using this social network, which is positioned as an analogue of the TikTok service, you can create and promote video content.

Alexander Kislov