This is interesting. The founder of Craft has exited to Polymarket, taking another free app he invented (Craft Agents) with him. The funds from the transactions were used to pay off Craft’s financial investors allowing the team to assume full ownership and control of the company.
https://www.reddit.com/r/CraftDocs/comments/1ugftl6/crafts_next_chapter/
Wanna take bets on how all this will work out?
Katie
I am not a betting man, but my guess is that Craft will ultimately be sold to a company like Bending Spoons or Applause. This is purely intuition; I have not researched it and will not take the time to do so, but I do not hear much about Craft lately, which causes me to wonder how many individuals and companies are paying the subscription given how many alternatives there are.
Given the company he’s moving too, I wonder if Craft’s founder is himself a betting man? 
Interesting – I don’t recall any other similar “exit” where investors get bought out and the team is taking over the app. I’d be curious what the governance structure of the company is like now, or even just how many individuals are now sharing ownership and with what level of control.
Regardless, I’m haven’t been using Craft in a while, but this does feel a lot better than the usual “our incredible journey” news.
I agree. The founder leaving without outright selling the company doesn’t give me warm and fuzzy feelings about the commercial success of the app.
If I was using Craft right now, I would be abandoning ship
The market Craft operates in is over populated, there are many similar products which means it’s likely difficult to maintain enough subscribers. I wonder if, with a number of people leaving, it may be more sustainable.
At the same time, more and more people want a system which uses Plain markdown files rather than proprietary formats and databases. Lock in is a concern.
It’ll be interesting to see what they can do with Craft, when I tried it it seemed like a well thought out app.
I’d certainly be regularly exporting a copy of my data.
If people are close to the product and the team, they may stick with it to see what happens.
Fortunately for Craft users, it has solid export options.
Such gloomy opinions. They sold code, not the code for the core product but other code that the buyer wanted, and used to proceeds to pay off their debt. It’s a small staff; always has been. Now they are debt-free and control their employer.
Why decide it’s time to “take all my data and go away”?
Katie
This definitely looks like an acquihire to me. If I’m parsing the public statements correctly, the proceeds from the sale of Craft Agents to Polymarket were used to cash out Craft Docs Limited, Inc.'s existing investors, leaving the remaining team in possession of the company and its assets.
Craft is a lovely app. Not everyone wants to be elbows-deep in a folder of plain markdown files or confronted with the build-your-own-adventure that is Notion—for them, Craft might deliver just the right amount of polish and intelligibility.