Selfless has been a very prominent organisation in esports. It has fielded multiple and successful teams in CSGO, Overwatch etc. Ryu, the CEO of Selfless was himself a player at a time. However he stepped down / up into a managerial position for the better interests of the team.
Selfless will now be shutting down. it is a big shock as no one expected this announcement. The farewell letter individually mentions each esport player and team that was under the Selfless umbrella. It is definitely heartfelt and you can feel the affection that the organisation has for its players.
The reason for the organisation shutting down was the opening of new business avenues elsewhere. While there has not been more transparency on these ´avenues´ it is undoubtedly something that they hope will be more successful than Selfless.