Near Intelligence
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
Near Intelligence was a data-intelligence company founded in Singapore in 2012 by Anil Mathews and headquartered in Pasadena, California. Its full-stack SaaS platform curated one of the worlds largest datasets on people and places, fusing anonymized location signals from over 1.6 billion unique user profiles across 44 countries with online behavioral data to help brands, agencies and retailers understand real-world consumer movement.
02 / Near Intelligence FAILURE REASONS
Failure reasons
Near went public through a SPAC merger in March 2023 and quickly unraveled. Months later it admitted its financial statements were unreliable; in November the board fired the CEO and president for financial mismanagement, and on December 8, 2023 the company filed for Chapter 11 bankruptcy with liabilities topping $100 million. Prosecutors later charged the founder-CEO and CFO with securities fraud, alleging they inflated revenue by about $25 million. Its assets were sold off and the stock was delisted in January 2024.
03 / EVENT HISTORY
Events in the structured record
- Company founded
Anil Mathews founds Near in Singapore to build a global people-intelligence dataset from location data.
- Funding round
Near Intelligence begins trading on Nasdaq on March 24, 2023 under the ticker NIR after a SPAC merger.
- Bankruptcy filing
On December 8, 2023 Near and affiliates file for Chapter 11 protection in Delaware with liabilities over $100 million.
- Operations ended
The stock is delisted in January 2024 and the companys assets are sold through the bankruptcy process.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
People-intelligence dataset: 1.6B profiles, 44 countries
- 02
Founded 2012 in Singapore; Nasdaq listing Mar 2023
- 03
Financial statements admitted unreliable; CEO fired Nov 2023
- 04
Chapter 11 Dec 2023; assets sold; delisted Jan 2024