Israeli internet company Conduit, which develops toolbars for web browsers, will shut down its U division responsible for the development of its own web browser.
The browser, which has already been discontinued, was intended to compete with the hugely popular Google Chrome. It offered an interface with social networks including updates from Facebook and Twitter.
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The Conduit website now has a message stating, “After spending the last few years paving the way for a new and better web experience for our users, the team at U is taking some time to focus on new challenges. As of December 1, 2014, U is no longer operational. We’ve learned so much thanks to our loyal users, and we’ll use these new insights to create even more amazing products.
“We want to thank everyone that took part in the U experience.
It’s been a blast!”
Reportedly, 10 employees have already been let go and the other members of the division will be transferred to other projects.
The U division was only founded two years ago. The move comes only a year after Conduit shut down its Wibya division which it had acquired in 2011 for $45 million.
The company now intends to expand its Como division. Which lets users develop apps quickly.
Conduit is a mobile-first software company that says that its “pioneer’s groundbreaking ways for people to engage with their mobile and desktop devices.”
Founded in 2005, Conduit became Israel’s largest Internet company, valued at $1.3 billion in 2012. Conduit shifted its focus to the arenas of mobile and digital engagement.
Conduit’s suite of offerings include Como, a do-it-yourself mobile app-creation platform; and First, which the company boasts is the preferred lock screen solution for brands and content providers. In late 2013, Conduit spun off its Client Connect division, which then merged with Perion, a global consumer software company.
Today, Conduit states that it continues to move its line of trailblazing products forward, constantly developing new ways to make them even more engaging.
