Former Wipro Executive Vivek Paul has sold his startup KineticGlue to BMC Software in a deal six weeks ago. (Source) KineticGlue, the company which was in the enterprise social networking space, said that its focus on the Indian market was a misstep. In an interview to the Times of India, Paul said:
While Indian corporates are changing, we found that they prefer not to be pioneers, and follow their US colleagues. Their sales cycles are long and payment requires much follow up.
In December 2010, KineticGlue acquired Injoos (read our coverage of Injoos), a SAAS based social collaboration platform in an all stock deal. Srinivas Seshadri, the co-founder of Injoos who had joined KineticGlue as the Chief Operating Officer had left the company to join Infosys last year.
The enterprise 2.0 space, with collaboration companies such as Yammer and Jive leading the wave, has seen many startups coming up. In October 2012, Autodesk Inc acquired Qontext, an enterprise social collaboration software from Pramati Technologies.