Grexit Is Bad for American Startup

Software StartUp

Greece’s future was not the only one at stake during its agonizing efforts to reach an agreement over a new cash-for-reforms plan proposed by its international creditors in order to avoid a painful exit from the Eurozone. A firm called GrexIt from Palo Alto, California, was also standing on the edge of the global software market because of its name.

GrexIt, which started to operate in 2011, facilitates business teams to share and sync email conversations with their colleagues and work together on projects relevant to hiring, operations, project management, sales, and support using labels in their Google Apps email.

During the last few weeks, the software company had noted a serious 20% boom on its website’s traffic, benefiting from the world’s interest to stay up to date with the Greek crisis‘ recent developments.

However, the startup company’s association with the Greek financial drama is not the evolution the firm’s inspirers were wishing for: “We’re getting irrelevant traffic that’s just bouncing off and messing with our conversion rates,” GrexIt cofounder Nitesh Nandy said.

“It was not possible to predict when we came up with the name in 2010, it’s just bad luck I guess,” the company’s founding member stated, revealing the team’s recent decision to start a brainstorming process on name change and rebranding.

In reality, the software company’s name is a combination of the English word “it” and the Latin word “Grex,” which according to its people, refers to the words flock or herd in their effort to imply their software’s ability to connect people.