Former Rep. Beto O’Rourke (D-Texas) announced Friday that he would drop out of the presidential race, ending what was once thought to be a potential leading 2020 Democratic bid that failed to garner the same enthusiasm that surrounded his Senate campaign last year.

O'Rourke said in a post on the website Medium that it had become clear he did not have the means to keep his campaign afloat, an acknowledgement of the financial struggles the former Texas congressman has faced in recent months.

"My service to the country will not be as a candidate or as the nominee. Acknowledging this now is in the best interests of those in the campaign; it is in the best interests of this party as we seek to unify around a nominee; and it is in the best interests of the country," he wrote.

O'Rourke sought to tout his influence on the Democratic race Friday evening while speaking to about 200 supporters huddled in a park alongside the Des Moines River in Iowa, where he was slated to appear at the state party's Liberty and Justice Dinner.

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