The shutting down of Mxit was announced on October 23, 2015 in a public statement by the company after user numbers dropped dramatically over the last 2–3 years. Competition from other social platforms such as Blackberry Messenger, and, later, WhatsApp and Facebook Messenger along with Mxit's own lack of technological advances in the social arena attributed to the company's closure. The donating all of its intellectual property and technology assets to independent public benefit organisation "The Reach Trust" was announced in the statement issued by the company.