The liquidation that Chromeworx, Google partner, got into after it stopped trading as Rype ideas has amounted to the company owing not less than $200, 000 to Google.
The liquidator gotten for the transaction is Ian Currie of BRI Ferrier on 4th of October this year after which it arrived at $292, 745 with the bigger part being owed to Google Asia.
Currie said that he does not think Google will be able to recoup the investment it made on Chromeworx.
An app platform based in Sydney and owned by Google – itGenuis have acquired Chromeworx’s customers and assets. The director of itGenuis, Peter Moriarty said his company had been interested in acquiring Chromeworx even before the liquidation. He said that they had to take it on so as to provide support for the customers that Chromeworx left behind.
The company said the acquisition is a welcome development being that they had always wanted to become a major reseller of Google Apps in Australia. That way he said, they will be able to offer help to more customers by the acquisition and growth. Moriarty said already they have close to 30% customer base after the acquisition.
Founded in 2010 as Rype Ideas, Chromeworx was doing well as a cloud integrator. The company started going down the moment Tony Chadwick, the co-founder started getting looking into The Rype Group, a different cloud app integrator. The vendors that made up The Rype Group were Vend, Xero and WorkflowMax with Google not in the picture.
It is always low margin to resell a cloud service. This is why Google had to beef its margin up for partners by raising the requirement needed for the revenue and setting as its ‘premier’ tier the sum of $500, 000. There partners would be able to get up to 30% for Google apps like Search for Work and For Work.
The vendor, Chadwick told CRN was indeed raising the bar for partners that are Premium, adding that only one or two will be able to meet the requirement in Australia.
On Wednesday, a creditors meeting will hold. From all indication, there is no affiliation between Rhipe, the cloud aggregator and Rype Group.