Free May 2017 became the last month for another massively funded app New Delhi

Published date: March 15, 2019
  • Location: New Delhi, New Delhi, Delhi, India

With $165 million raised in venture capital and its market valuation of $600 million, a mobile search company was developing a digital assistant app. The main functionality of Quixey was helping users to find content in the apps installed on their devices.

With Alibaba being the leading shareholder ? the Chinese company invested almost $80 million ? Quixey became a good example of how dangerous debt is, when you are backed by venture capital. In February 2017 Alibaba refused another round of investment. Right after that most of the team was dismissed. According to the announcement by Alibaba, Quixey didn’t meet expectations and the board decided to shut the project down.


For More Info:- https://members.webs.com/manageapp/blog/show/46466601-mobile-app-development-trends-2k19

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