Socialtext Closes New Round of Financing and Announces Layoffs

Apr 14, 2009

Enterprise Wiki vendor Socialtext has just closed a new round of financing, totaling approximately $4.5 million, from existing investors which participated in this round, including Draper Fisher Jurvetson, Omidyar Networks, and University Venture Fund.  Since the end of September Socialtext has delivered an expanded platform of Enterprise 2.0 capabilities, adding social networking (Socialtext People), customizable dashboards (based on the Google Gadgets standard), secure enterprise "Twitter-style" microblogging (Socialtext Signals), an Adobe AIR-based desktop client that integrates all aspects of the platform into the user experience (Socialtext Desktop), and is in beta with Socialcalc, the industry's first social spreadsheet. Socialtext also announced a six-employee reduction in its workforce.