Indian company called GrexIt gets unwanted publicity after Greece bailout crisis

'We are looking at re-branding and taking a new name'

When Niraj Ranjan Rout and Nitesh Nandy founded their company in 2011, the name GrexIt seemed perfect for their business.

Grex is the Latin word meaning a flock or a herd, and their email software helps people turn their Gmail account into something that creates shared labels and shared notes, thus making it easier for workers to collaborate on projects. They bring the flock together.

However, now they are getting an unwanted flock of internet interest as their name no longer has any positive connotations: Grexit has now become the phrase used around the world regarding the possible exit of Greece from the eurozone. Grexit is now a synonym for economic failure and financial collapse.

Niraj Ranhan Rout said that in the first few years of the company, there was not much interest in the name from abroad, despite the creation of the word Grexit in relation to the Greece crisis. However, over the last month, with Greece on the brink of leaving the eurozone, along with referendums, late-night votes and endless talks, the Indian company's website has seen a huge surge in traffic.

"The term is actually a fairly negative one," Rout said, "We are looking at re-branding and taking a new name."