‘Grexit’ gives a boost to US firm
A US technology firm called GrexIT has seen a “significant” increase in web traffic over the past couple of weeks, it comes as the possibility of a “Grexit” – or Greece exiting the euro zone – looks to be a very real possibility amid the country’s ongoing debt crisis.
Co-founder Niraj Ranjan Rout told CNBC via email that the firm had been up and running since before the term was coined and its website, grexit.com, was created in early 2011.
“Yes, we’ve had increased traffic because of the Greek economic crisis,” Rout told CNBC, explaining that the company name is an amalgamation of “Grex” – which means “flock” in Latin – and IT – the abbreviation of information technology.
“The amusing thing is, how would our customers in Greece feel about the name of the product? We do have a few, so maybe sometime we should ask them.”
Despite this influx of traffic, GrexIT has not managed to translate it into increased sales, according to Rout.
“Our focus is our SaaS (software as a service) business of email based on collaboration/ productivity tools, and the traffic we’re getting is irrelevant from this perspective,” he said.