The ‘acquihire’ of the day: TechStars Seattle grad Thinkfuse gobbled up by Salesforce.com

Thinkfuse, one of the original startups to move through the TechStars Seattle program, is being acquired by Salseforce.com in a deal of undisclosed size. This appears to be a true “acquihire” where larger entities gobble up the team, not the product.

As part of the deal, the Thinkfuse service will be shut down on July 25th and the company is recommending that users of the service, an online collaboration tool that allowed people to easily share progress reports, move to Mailchimp.

“To all of our users, thank you for using Thinkfuse! We’ve been on an incredible journey thanks to your comments, feedback, and support,” the company wrote in a blog post. “We started Thinkfuse with a simple idea to help teams communicate more effectively. We now have an amazing opportunity to pursue that passion on a much larger scale at salesforce.com – one of the leading companies in the space.”

ThinkFuse at TechCrunch Disrupt

Thinkfuse, which was led by former Market Leader and iLike product manager Aydin Ghajar and former Microsoft software engineers Brandon Bloom and Steve Krenzel, raised $500,000 in startup capital from Founder’s Co-op; Ali and Hadi Partovi; SV Angel and others.

Interestingly, the deal comes on the same day that Microsoft announced its $1.2 billion acquisition of Yammer, which also offers business collaboration tools along the lines of Thinkfuse.

“Communication and collaboration is a busy space, but that’s because there’s money in it,” Bloom told GeekWire earlier this year.

Salesforce.com has been on a bit of an acquisition binge recently, buying Buddy Media and Stypi last month. The company operates a small development office in Seattle where the entire Thinkfuse team will be based.

“We looked at the major players in the landscape and our possible paths forward,” Krenzel tells GeekWire. ”Salesforce is a great company doing big things in this space right now and after speaking with them, it was an immediate fit. We felt joining them would be the best possible outcome for the company.”

Previously on GeekWireWhere are they now? Update on the TechStars Class of 2010

  • http://thinkspace.com Peter Chee

    Congrats to the Thinkfuse team. I’m very happy for you guys.

  • evanjacobs

    Did Thinkfuse ever launch?

  • http://twitter.com/nparekh00 Nikesh Parekh

    Congrats to Aydin, Steve and Brandon!

  • http://www.nosnivelling.com daveschappell

    Sad to see the product go away (yes, I and my team are some of their most active users). Hope to see it resurface in a fashion within Salesforce.

    • http://blog.teamly.com/about Scott Allison

      In the meantime if you’re looking for an alternative, check us out: http://teamly.com

    • http://twitter.com/dhassell David Hassell

      Hey Dave,

      You might also want to check out our company, http://15Five.com as an alternative. We’ve had quite a few former ThinkFuse companies come aboard.

      David

  • Thomas R.

    In these situations, do the investors win or lose? Or is this like blackjack, win, lose or push?

    • Dragon

      depending how deal was structured. when talent acquisition the investors don’t get much out of it

  • http://twitter.com/bcrimmins Bob Crimmins

    Congrats to the entire ThinkFuse team — truly a team of A-players. Aydin, Steve and Brandon, you guys should be proud to have built a great product, a great team and a happy ending where those are hard to find.

  • http://twitter.com/fijiaaron Aaron Evans

    Ask the customers if they win or lose?

  • http://www.bluebox.net Jesse Proudman

    Equally disappointed to see the servie shut down. We just began using it and instantly fell in love…

    • http://blog.teamly.com/about Scott Allison

      Check out Teamly (my company) as an alternative to Thinkfuse. Teamly asks employees to record their top objectives, and automates the reporting of those for management. Teamly is a practical, everyday tool that helps the end-user get work done. If I can help you get set up, let me know. http://teamly.com

    • http://twitter.com/dhassell David Hassell

      Hey Jesse,
      You might also want to check out our company, http://15Five.com as an alternative. We’ve had quite a few former ThinkFuse companies come aboard.
      David