Three months after being acquired, the location-sharing app company Gowalla has shut down, as expected.
Says the statement: "Thank you for going out with Gowalla. It was a pleasure to journey with you around the world. Download your check-ins, photos and lists here soon."
The company launched in 2009, and had over 600,000 users in 2011.
Gowalla, which was made popular due to its ... [ read the full article ]
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Originally posted by ivymike: So what's the whole point of acquiring a company if you're just gonna kill it??? Sounds like a waste of $$$
It's called corporate raiding. If the company that is acquired does not meet your expectation far as being profitable, you steal the tech then shut it down.
i remember seeing the check in feature but never used it.i did write on a m8s facebook status "robbing your house while facebook says your too far away to stop me"
custom built gaming pc from early 2010,ps2 with 15 games all original,ps3 500gbs with 5 games all original,yamaha amp and 5.1channel surround sound speakers,46inch sony lcd smart tv.
Originally posted by ivymike: So whats the whole point of acquiring a company if youre just gonna kill it??? Sounds like a waste of $$$
Its called corporate raiding. If the company that is acquired does not meet your expectation far as being profitable, you steal the tech then shut it down.
Jeff
Buying and then shutting down small companies with potentially "disruptive" technologies has been a mainstay of the electronic robber barron MO for some while. That and just suing them out of existence via patent troll bullying (wikipedia.org/wiki/Patent_troll).
