US social media marketing startup Argyle shuts down amid tight competition
Argyle Social is shutting down its social media managemetn service on May 31after four years of operations. In spite of the good features of its products, it could no longer keep up with its giant competitors Adobe, HootSuite, and Radian6, according to VentureBeat.
Part of an email sent to Argyle's customers read: "It is with no sense of happiness that I write to you today. After 4 years, Argyle Social is shutting down our service - effective 5/31/2014. We founded Argyle with a mission to help social media marketers achieve greatness by providing them with the tools they sorely needed to manage their social world. We're honored to have helped thousands of marketers do just that since we started out... We're sorry that this is where our adventure has ended, but we know it isn't the end for you. We wish you luck with your social media marketing journey, wherever it takes you next."
Founder Adam Covati said they had a tough time keeping up with the changes in Facebook and Twitter. Although it tried integrating with other marketing automation systems, the efforts were unsuccessful. He was also unable to find a buyer for the startup. The company will try to keep the links its service generated active for as long as possible, but the firm's URL redirectors are surely bound to expire, the report explained.
Argyle's most recent funding round in September 2011 closed at $1.2 million. Madison River Ventures was the lead investor in the said round, VentureBeat reported.