Syndera – R.I.P.
It seems that Syndera – www.syndera.com – was completely bought off* by Tibco and is now shut down. My earlier speculations about Syndera was right. So now we have one less CEP company alive. 
Hopefully the rest of the gang is doing fine. My Google Alerts have recently brought me some good news on Aleri and Coral8 so they are hopefully doing fine.
[Edit: Here's a nice summary of Syndera]
*) What is amazing is that a company like Syndera, which actually has (had) an idea on how make money and had a pretty good story on the value they were providing is only worth $1M (That’s what Tibco bought them for). I just don’t get this.( I’m not supposed to either, so it’s ok.) Compared to Twitter which is valued at $250M. To me Twitter has more or less no apparent value and there seems to be no idea on how to make money. Still investors push money into it. Are the investors totally insane? They could as well burn their money on a nice bonfire. Hopefully there are some investors left which are not on acid. I have the same distinct feeling now as I hade just before the .com bubble burst. How long before this web 2.0 bubble bursts. There seems to be tons of companies like Twitter getting VC money currently. All these will die soon if you ask me.
Just to be clear, I’m sure Marco meant to say he is talking about Syndera the company (now RIP?) versus Syndera the product (still healthy and under active development as part of the TIBCO BusinessEvents platform).
e.g. see http://tibcoblogs.com/cep/2008/11/12/tibco-syndera-operation-suite-330-released/
Sounds like great news that the product is still alive. I was indeed talking about the company. I was not aware that Tibco continued to develop the product. I’m still a bit unclear on how it fits into Tibco’s product range and plans. But I suppose there’s a clever plan for all this stuff somewhere that will be apparent in the future.
It seems that it is not only CEP companies that are sold for close to nothing. GM have today kicked out Saab and they are now trying to reconstruct the company. With a relatively small amount of cash I think you could own one of the world best car companies. I think GM has payed something like $700M for Saab and now speculations are that you could get it for less than $50. Buying companies seems to be a good way to burn your lots of money quickly.
Hi Marco,
In our research, we could only confirm $15M in financing (Series A and Series B funding). The original Syndera business plan, however, did call for $20M in funding.
Ref: http://www.thecepblog.com/2009/02/23/the-syndera-journey/
If you have a link to an announcement of a final round of Series C financing, please post. Thanks!
Yours faithfully, Tim
Tim, I saw the $20M figure on some website that I can’t find now. I think I should start to link to pages that I refer to in my blog… I might also be that I read a bit too quickly and thought the $20M to be secured funding and not something they had a plan for.
Hi Marco,
I read a few website where the CEO mentioned to the press that their business plan called for $20M in funding, but I can only find where they raised $15M via Series A and Series B financing. I searched the archived press releases and the Internet and could not find any announcements of additional Series C funding. Anyway, it is “water under the bridge” now, as they say.
BTW, I like your blog. I find many of your posts very good, especially your comments on the industry, mergers, and more.
Yours sincerely, Tim
(sorry for my typos, I was in a hurry, please edit them, thanks!)