Entellium CRM in Trouble?
October 5, 2008
South of the border in Seattle, there is word that Entellium’s Web based CRM application and Sales Force Automation may be hitting hard times.
The Seattle Times report the departure of Chief Executive Officer Paul Johnston and Senior Vice President Parrish Jones on Thursday Oct. 2.
Then on Friday, Oct. 3rd, Puget Sound Business Journal reports Entellium laid off its sales and marketing staff.
Entellium has raised more than $30 million in venture funding, including Ignition Partners and Sigma Partners. At its peak earlier this year, it employed more than 190 people in the Seattle area and the Development group in Malaysia.
We will know more about the current state on Monday, Oct. 6, when the company evaluates their options.
“It is not a wind down situation. It is not a fire sale,” said Charles Miller, Vice President of Operational Excellence at Entellium. “We just needed to make some changes in the organization to reduce our burn.”
I survived the dot com meltdown from 2000-2003 and it appears those memories are coming back with the current state of the economy.
Stay tuned.
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