Salorix, a Bangalore based data analytics firm has recently shut down its operations, reports ET. As revealed, the shutter goes down due to the conflicts between investors and founder, Santanu Bhattacharya upon acceptance of acquisition offer by Google.
As said, Google has made the offer twice in year 2012 and 2013, however Santanu shun it as he didn’t found the proposal appropriate. However, the investors were highly in favour of accepting it.
Founded in 2009, Salorix was a global company headquartered in Silicon Valley, with offices in New York City and Bangalore, India. It was positioned at the intersection of three major industry trends: big data, social media and marketing automation.
The company has developed a social marketing platform to build effective campaigns thereby using a single user interface supporting multiple social channels including FaceBook, Twitter, LinkedIn, YouTube, blogs and websites.
Backed by venture capital firms Nexus Venture Partners and Inventus Capital, till date the company has raised USD 3.5 million funds. The clients included Levis, Berkshire Hathaway, Lindt and Volkswagen.
Other major acquisitions in this space included Topsy (Apple), Deep Mind Technologies (Google), Inkiru (Walmart Labs), Bluefin Labs (Twitter) and many more. Also, music streaming app, Dhingana and subscription streaming service iStream were among the recently shuttered startups.
To contact the author, email at firstname.lastname@example.org