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Docstoc, First Acquired by Intuit, is Shutting Down Dec. 1

docstoc

If you are a Docstoc [1] user you may want to hurry up and pull out soon.

The company has announced it will be closing shop as of Dec. 1, 2015, and warns users to retrieve any documents previously uploaded to their account.  

Docstoc, founded in 2007 by Jason Nazar and Alon Shwartz, offers a large selection of more than 20 million professional- and user-generated documents aimed at small businesses. The site also offers resources for small business owners such as videos, articles, and productivity tools.

Several years ago, the company expanded its services, launching two other websites aimed at helping small business owners.

They are License123 [2], a business licence database, and Expert Circle [3], a product and vendor recommendation site.

But now Docstoc users are being notified that the company will no longer be continuing services. An email sent to users warns all accounts will be automatically closed out as of Dec. 1.

The email asks users to “please make sure to visit the site no later than November 30th, 2015 to retrieve copies of any documents you previously uploaded to your account.”

The company says any questions can be asked through email at support@docstoc.com [4].     

Back in 2013, the company was acquired [5] by software giant Intuit [6], possibly best known for products like Quickbooks. Intuit serves millions of small businesses with its software and products so the acquisition seemed a natural step for both companies.

Intuit would gain access to more products that assist small businesses. Docstoc would benefit from Intuit’s resources and established brand. With over 25 million registered users and a big name like Intuit over them, it seemed Docstoc was doing well.

So what went wrong?

Docstoc told VentureBeat [7] the shutdown was due to Intuit’s decision “to discontinue these products.”

The company also stated it plans “to support our existing customers, but will not be able to allow any new registration or subscription.” That is until the final shutdown coming in December.

No further reason was given as to Intuit’s decision or for the Docstoc shutdown. Speculation is that Intuit is turning their focus in a different direction, and Docstoc no longer fits. It is also unclear as to whether License123 and Expert Circle will also be closing their doors, but for now no shutdown notice has been posted on either site.

Image: Docstoc