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Dan McComas started Imzy in 2015 as a Reddit alternative. He had several advantages. He was a former Reddit VP. Over the course of it's history it had raised $11 million in external investment. That's a lot of money to spend on research, development, advertizing. But ultimately it failed in June 2017.
lol wanted a friendlier version of Reddit. Ok but Reddit is censored to hell. So you want a more censored Reddit? That's carswells trusted team idea for this site, control the culture, censor conservatives.