Vivek Paul-promoted Kinetic Glue on 9 December 2010 acquired Bangalore-based start-up Injoos in an all-stock transaction. With the acquisition, Kinetic Glue attempts to target the billion dollar market for pay-as-you-use social business software in India.
Injoos, founded in 2008 by former Infosys executives Jagdish K Vasishtha and Srinivas Seshadri announced that it has around 5000 users for its social business software that allows companies to store, sift through and collaborate on documents and data.
Kinetic Glue and Injoos will have competition from established multinationals like Salesforce.com's Chatter and Silicon Valley start up Jive.
The global market for social business software is around $6-8 billion annually. Companies involved in social business help companies set up their own official equivalent of Facebook for employees. The process of interaction helps in forming focused discussion groups, but also breaks hierarchical barriers and encourages bright and less experienced professionals to participate.
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