JuicyCampus, the cheeky site where university students could dish gossip in absolute anonymity, shut down this week citing decling ad revenue.

In a note to readers, CEO Matt Ivester said: “Unfortunately, even with great traffic and strong user loyalty, a business can’t survive and grow without a steady stream of revenue to support it.  In these historically difficult economic times, online ad revenue has plummeted and venture capital funding has dissolved.  JuicyCampus’ exponential growth outpaced our ability to muster the resources needed to survive this economic downturn, and as a result, we are closing down the site as of Feb. 5, 2009.”

With pressure on advertising sales across the media universe, it will a difficult year that may force previously free online properties to seek new and different sources of revenue.