Hotline: 1800 102 2007
Hotline: 1800 102 2007
Search Business Opportunities
2014-03-05

Salorix, Bangalore-based data analytics start-up, shuts operations

Bangalore and US-based Salorix Inc, a VC-backed social media marketing and analytics solutions firm, has closed its operations as it failed to raise enough funding following a feud between its founder and investors.

Bangalore and US-based Salorix Inc, a VC-backed social media marketing and analytics solutions firm, has closed its operations as it failed to raise enough funding following a feud between its founder and investors. Salorix also spurned an acquisition offer from Google last May.

 

The investors were strongly in favour of a deal because they thought they saw an attractive offer. But founder Santanu Bhattacharya was not accepting the offer. Hence, the investors put a stop to further funding and the events lead to the closure of the company.

 

The investors, Nexus Venture Partners and Inventus Capital, declined to comment. Founded in 2009 by former NASA scientist and IIT Bombay alumnus Bhattacharya, Salorix had raised $3.5 million (Rs 21.6 crore at current rates) in 2011.

 

"The investors made a recommendation to the founder to take the offer, but he was asking for a higher price and the deal did not go through," said a person with direct knowledge of the negotiation. With offices in India and the United States, Salorix had 35 employees when it went under.

Related opportunities
  • About Us:  TBSE" aspires to expand its presence in the PBCL..
    Locations looking for expansion Maharashtra
    Establishment year 2014
    Franchising Launch Date 2015
    Investment size Rs. 2 Cr. - 5 Cr
    Space required 4000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Online Travel Services
    About Us: Founded in 2014, Idea Mantra Holidays is a destination..
    Locations looking for expansion Karnataka
    Establishment year 2004
    Franchising Launch Date 2018
    Investment size Rs. 2lac - 5lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bangalotre Karnataka
  • Tea and Coffee Chain
    About Us: A Nibs is the centre of the Cocoa bean..
    Locations looking for expansion Rajasthan
    Establishment year 2012
    Franchising Launch Date 2012
    Investment size Rs. 10lac - 20lac
    Space required 250
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Jaipur Rajasthan
  • Other Online Education
    About Us :  Study Adda provides a unique interactive educational..
    Locations looking for expansion Maharashtra
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 50 K - 2lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts