Sequel, a startup that created custom branded marketing tools and websites for real estate teams, is shutting down, a company executive confirmed.
The fledgling startup was founded by, and was a subsidiary of, Rennie, a real estate company in Vancouver, British Columbia. It called itself a “software startup that unites creative, independent brokers from around the world with shared technology that shows off their brand to create a superior experience for agents and their customers.”
“At the time of dissolution, the two co-founders were negotiating a decoupling of Sequel from Rennie to alleviate the stress on the development team resources on the brokerage,” Laura Monroe, the former vice president of growth and partnerships, told Inman on Tuesday. “Ultimately, it’s unknown what the final reason was for not going forward with the sale.”
Monroe confirmed fulfillment of all current clients will be continued, but no other business development is planned at this time as a singular web development company. Sequel had five enterprising brokerage clients, according to Monroe, all of whom will have access to their content and data.
A full development team of 10-15 employees was already in place under Rennie’s technology division and Monroe said she expects most will stay with the brokerage. The business development team of two employees will not continue with the company.
“My first and highest concern is for my clients and partners,” Monroe said, in a Facebook post announcing Sequel’s dissolution. “They know they have my utmost support and friendship while their project transitions are put in place.”
“I am utterly disappointed that I am not allowed to continue the journey we started together when they put their trust in me and our new company, and I will do everything in my power to ensure their continued success,” added Monroe. “I’d also like to take a moment to thank all of the people in our industry who supported me personally and had key roles in our growth.”
Rennie did not respond to a request for comment.