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Facebook Shutters Its Developer Platform, Parse

Facebook is cutting its losses.

Asa Mathat

Facebook is shutting down Parse, the suite of developer tools it acquired in 2013 to help small mobile developers build apps using Facebook-owned tools and servers.

The announcement came via a blog post Thursday afternoon, just six months after Parse CEO Ilya Sukhar left the company. Facebook says it will slowly wind down its developer services, officially shutting everything off one year from today.

“We understand that this won’t be an easy transition, and we’re working hard to make this process as easy as possible,” wrote Kevin Lacker, one of Parse’s co-founders.

The general reason Facebook decided to close Parse: It didn’t want to spend the necessary resources to compete with existing, more mature developer offerings from companies like Microsoft, Amazon and Google. Sometimes, you just have to cut your losses — in this case, a company Facebook paid more than $67 million for.

The good news for Facebook investors is that Parse’s demise won’t taste as bitter on the heels of Facebook’s mammoth Q4 earnings announcement Wednesday afternoon.

This article originally appeared on Recode.net.