Klout is shutting down May 25, so internet users have until then to determine how much "klout" they pack online, The Verge noted.
The social reputation service scores social media users according to their online social influence and was made popular when the likes of Facebook and Twitter were still novel.
The service then expanded to offer users deals, discounts and product samples to select brands provided they maintain a certain score.
More than four years ago, social media software company Lithium acquired Klout for a reported $200 million but the company has since decided that the service no longer forms part of its vision, Tech Crunch said.
"The Klout acquisition provided Lithium with valuable artificial intelligence (AI) and machine learning capabilities but Klout as a standalone service is not aligned with our long-term strategy," Pete Hess, chief executive officer of Lithium, said in a blog post.
The date of the social reputation service's shutdown coincides with the deadline allocated to companies to comply with the new European data privacy rules, although Lithium has made no mention of this, The Verge reported.
The General Data Protection Regulation applies to all companies that use data on people living inside the European Union, and organizations found in breach could face heavy penalties.
While tech giants such as Google and Facebook will certainly be affected by the changes, the smaller competitors may find it harder to stay afloat amid the newly introduced regulations, CNN noted.
"The implications and ramifications of GDPR compliance will challenge numerous organizations ... with resources on scales smaller than, say -- and in particular -- Facebook and Google," Julie Bernard, chief marketing officer at Verve, said.
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