So the confusion surrounding Adepto’s acquisition finally seems to have ended: Digital technology firm Kuliza has announced that it has acquired Adepto’s social marketing platform Crowdnub for an undisclosed amount. The terms of the acquisition were not disclosed.
Speaking to Medianama, a Kuliza spokesperson told that it has acquired only the Crowdnub platform and not the Adepto team. Adepto CEO Kiran Kumar told Medianama that the team has now moved on to other ventures while he currently doesn’t have any specific plans yet.
Kuliza has integrated Crowdnub to one of its newly launched products called Mobichirp which allows brands to build rich app-like cross platform marketing campaigns.
For context, Crowdnub allows brands to build and launch customized social apps across various devices and social platforms like Facebook, Twitter and LinkedIn. It claims to provide the ability to build social apps once and repurpose it for various social media campaigns later, thereby reducing the data fragmentation across these apps and the user friction towards them. It also enables brands to provide virtual points, badges and rewards like discount vouchers, event invites and special privileges among others to its consumers.
This acquisition follows the ‘are they/aren’t they being acquired’ confusion in June 2013 wherein Microsoft Accelerator had said that that Minjar had acquired Adepto, which was subsequently denied by Minjar CEO Vijay Rayapati, and Adepto CEO Kiran Kumar saying that the Minjar deal was not closed and they were in talks for an acquisition with an “interested party”.
Last month, Adepto’s investor Blume Ventures had disclosed in its half yearly investor report that Adepto had “ceased operations”. When contacted, Adepto CEO Kiran Kumar had declined to comment on this to Medianama while Blume Ventures Managing Partner Karthik Reddy had told “ We have a thin team that’s exploring sale of assets/products. I have nothing more to add since I doesn’t know more on the end state.”
Founded in 2010, Adepto had raised $300,000 from Blume Ventures and a consortium of angel investors led by Rajiv Dadlani in June 2011. It initially offered a social commerce solution Trol.ly which allowed consumers to share their e-commerce purchases on social networks like Facebook, in return for discounts or an offer. However in July 2012, the company pivoted the product to a social marketing platform called Crowdnub. Its clients include HDFC Life, HomeShop18, Jabong, Gaana, Cafe Coffee Day, Jet Airways and Wildcraft among others.
Interestingly, Kuliza had also raised undisclosed amount of investment from Blume Ventures last month and had said the funds will be utilized for global expansion and development of new digital marketing tools. Kuliza CEO Kushal Sarda had then told Medianama that they plan to release new digital tools in about a month, which were released today coinciding with Adepto’s acquisition.
New Digital Offerings: As per a note from the company, the new offerings include social offerings like Elevate which allows brands to keep track of where and how their fans are engaging with them on Facebook and their site and identify their most valuable and monetizable Facebook fans and Echo which allows them to increase Facebook referrals.
Launched in 2006, Kuliza offers digital solutions to build web apps, social apps and mobile apps for iOS, Windows, Android and mobile web. It also offers solutions to build e-commerce sites, big data apps and other tools. Its clientele include Ebay India, Intuit, Pearson, Myntra and Zansaar among others.