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500 Startups-backed Walletkit pivots business to a messenger platform

500 Startups-funded Walletkit has pivoting its business to a messenger platform from its existing business  which offers a software-as-a-service (SaaS) platform allowing businesses to create, manage and distribute digital passes to mobile wallets like Apple’s Passbook and Google Wallet, reports Techcircle. Speaking to the publication, Kevin William David, said that the Chennai-based company stopped working on the product as the adoption was less among consumers and merchants for Apple's Passbook and Google's Wallet. David also added that 500 Startups continues to be an investor in the company and still holds 5% stake in the company. Walletkit was part of Dave McClure's 500 Startups fifth batch of startups, and the company was founded by Kevin Rajasekaran and Ramakanth Dorai and they debuted their product in 2013. Startups which shut down in 2014 Earlier in 2014, 500 Startups funded online menswear company  Seat14A shut shop and some of its cofounders left to start their own ventures. Mumbai-based social wishlist site Wishberg  shut down and the founders Pravin Jadhav and Kulin Shah are moved to the Sequoia Capital-backed online recharge and couponing site Freecharge. Online fan merchandising store Bluegape.com  shut down operations due to copyright issues and plans to pivot to a new business model. Bluegape allowed designers and brands to set up merchandise stores and sell through e-commerce platforms like Flipkart, Snapdeal and Amazon. AllSchoolStuff.com, an e-commerce website that sold school supplies, stopped operations. The company had raised about $1 million from Angels Investors Consortium, and some other private investors in 2012. Noida-based test preparation service Vriti  shut shop. Founded in…

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