Google is dissolving Slide, the social app maker which it had acquired for some $200 million last year, the Internet search giant announced.
Slide was founded by the co-founder of PayPal Max Levchin. Google, ever since its acquisition, was maintaining the operation of the social company independently, as a separate division.
Apparently the primary reason behind Google’s shutting down Slide is Mr. Levchin’s decision to part his ways with the company.
“Max has decided to leave Slide and Google to pursue other opportunities, and we wish him the best. Most of the team from Slide will remain at Google to work on other opportunities,” a Google spokesperson confirmed the departure of Levchin, according to a report in the tech site AllThings D which first broke out the news.
According to the AllThingsD report, apart from the founder, Jared Flieser - the product chief for Slide also left the company and joined Square where his ex-Slide colleague Keith Rabois is acting as the Chief Operational Officer.
“It's a sad end for a company that had so much potential as a Google acquisition: it could have been Google's social NeXT,” Business Insider noted in this report.