RIP Syncapse: Syncapse Announces Huge Layoffs
It was just about a year ago that we reported Clickable Inc. was acquired by Syncapse. It was a bit of a surprise at the time, since Clickable used to be primarily a provider of SEM software for SMBs (and therefore a direct competitor of WordStream), while Syncapse is a social media management tool company.
I was even more surprised this morning to read the news that Syncapse is restructuring and laying off most of their employees.
According to CBC News:
In the past five years, the company had been expanding aggressively, employing 110 people at offices in Toronto, New York, London and Gurgaon, India.
On Monday, the majority of staff at the company were told they were being laid off.
"Despite our best efforts, the organization lacks the resources to move forward successfully and as such must enter a period of restructuring," company founder and CEO Michael Scissons told employees in an email obtained by CBC News. "This unfortunately means that effective today, we are laying off a significant number of our worldwide employees and ending go-forward development for our platform."
"The objective of this process is the continuation of the company, whether purchased or restructured, to continue to support our client relationships and provide continued (or renewed) employment for our team members," Scissons wrote.
If anyone was still using Clickable/Syncapse for PPC management, I think we can say now that the Clickable platform is officially dead.
Did you use Syncapse’s tools, including Clickable? What do you think about the Syncapse news?
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