When it was launched, Hashable was considered a really cool way to replace business cards. But apparently, the developers simply couldn’t make Hashable good enough, so they are shutting down the service. The good news is that the folks behind Hashable are working on a new product in the mobile ad space.

This was reveled by Michael Yavonditte, founder and CEO of Hashable, through a tweet. “We’re building a very unique mobile ad system — one that honors both publishers and advertisers, back to world we know better than most,” the tweet read. Apparently, the mobile ads effort will be run by a new company.

The virtual business card startup’s current mobile and web service will be made unavailable from July 25. Hashable was launched in the fall of 2010.

Don’t worry if you have stored valuable information in Hashable. The company has clarified that customers will be given the opportunity to save data for their own records.

If you’d like to receive a file with your complete history, log onto Hashable.com, navigate to the “Profile” tab, then to the “Your History” section on that page. You can download the file by clicking “Export full history to .csv” and accepting the dialog that pops up.

However, you must get your info stored in Hashable before July 25. This means we are back into world of business cards.