Mercado is shutting down
Submitted by ron on October 7, 2008 - 04:05.
Mercado is shutting down, with 88 employees being laid off. The Marker said that one of the things that hurt them was moving to a SaaS licensing module (Software as a service) - meaning that the payment is not 'up-front'. They got more clients that way, but they had cash-flow problems. Mercado has raised 70M$ over the years, and has developed a search engine for eCommerce sites.
Who is reporting this information?
Can whoever is publishing this information please cite their source and identify themselves? There are a bunch of rumors floating around and I am hoping to secure some facts, or at least get some sense of the basis for these claims.
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