InQuira Built Out Of A Merger Forced By VCs
from the you-merge,-you-get-the-money dept
I had been reading about this “new” natural language search company InQuira yesterday, and it sounds like they have some interesting technology. I was surprised, though, to find out some of the clients they had already signed up, despite just announcing their first real round of funding. Today, however, the real story comes out. The company is actually the result of a merger between two bitter rivals that were forced together by a few VCs. The VCs were interested in the space, but thought the two companies should combine efforts. They spent a few days trying to convince the CEOs of each company, and finally drove them to one of the VCs vacation home far away and locked them in a room together until they agreed to consider the deal. Basically, they said that the only way they would fund either company was if they merged.