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Social App Platform Adepto Has Ceased Operations, Says Blume Ventures

Social app platform Adepto has "ceased operations", according to its investor Blume Ventures, which disclosed the status of the company in its half yearly investor report, released yesterday. When we contacted, Adepto CEO Kiran Kumar declined to comment, while Blume Ventures Managing Partner Karthik Reddy provided this response via SMS : "We have a thin team that's exploring sale of assets/products . Thats been know for a while now - its an investor report / we report conservatively. So nothing more to add at this point since I don't know more on end state." The shutdown 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 they were in talks for an acquisition with an "interested party". Founded in 2010, Adepto had raised $300,000 from Blume Ventures and a consortium of angel investors led by Rajiv Dadlani in June 2011 and was part of the second batch of Microsoft Ventures India’s accelerator program. It had initially launched 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, which enabled brands to build and launch customized social apps across various devices and social platforms like Facebook, Twitter and LinkedIn. Crownub claimed to provide the ability to build social apps once and repurpose it for various social media campaigns later, thereby reducing the data fragmentation…

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