NeoSynergy Falters

By: Mitchell Redstone
Submitted: 2008-09-08 13:12:21
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With new ultimatums being enforced through the withholding of investor funding, Michigan start-up NeoSynergy ( http://neosynergy.net ) is feeling the automotive industry crunch. Having failed to meet multiple projected launch dates for their flagship e-commerce product, recently rebranded as "Best Deals Direct", the private equity group behind the NeoSynergy venture has frozen funding until NeoSynergy can get their house in order. The Best Deals Direct product has reportedly been pushed back in favor of a new PPC product being unveiled just in time for the PPC eulogy.

The demise of NeoSynergy's agreement with Outsell, the provider of NeoSynergy's now defunct Live Chat offering, might be merely the first domino to fall, or perhaps, from another perspective, the straw that finally broke the camel's back. NeoSynergy, Inc. has recently seen a stall in their negotiations with Ford Direct and Mazda, and the company has failed to make any headway with any major ISP's or ASP's, both major objectives required to receive any additional cash influxes.

Corporate restructuring has downsized the company by nearly 50% in recent weeks, following a March 2007 press release touting NeoSynergy's intent to "double [employees] within nine months." ( http://www.metromodemedia.com/innovationnews/neosynergy0061.aspx ) They are approaching half of the number employed at the time of the news article, and appear to be having trouble with existing payroll. At the time of this news article, over 40% of the company's employee roster has active and recently updated resumes at the top job sites and professional social networking sites (linked in, hot jobs, monster, career builder, and many others). Even in the best of times, that amount of employee activity in the job-search arena spells trouble for any employer.

With a bevy of failed products in tow and no more funder dollars leaking in (or rushing out), NeoSynergy has hit the streets with hundreds of unpaid invoices and the growl of a cornered animal. As all failed business will tell you, the voice of the customer will always decide who the players are in any market, and this is no exception to the rule. With all corporate efforts turning to the strong arm collection of phantom debt from edge-of-disaster dealerships, the board of NeoSynergy will finally have the feedback they so desperately need: that of the Dealer.

Mitchell Redstone

Article source: Expert Articles

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