Well, just when you thought consolidation was on hold, here is a CMS vendor out cold. Belgium-based Reef declared bankruptcy today. Evidently 30 staff managed to burn through 85 million Euros. Here's a quickie post-mortem. Reef had three problems: lightweight technical execution (though elegant architecture, conceptually); funky business model that relied overly on channel commitments; lack of a particular niche (real killer for a company its size)...
Read the Official Death Notice