Powa Technologies, once billed by its chief exec as the future biggest tech company in the world, may no longer be a threat to Salesforce's claim to the Heron Tower after going into administration making three quarters of its UK workforce redundant.
Based in the swanky Heron Tower, Powa is a mobile commerce company and one of the UK's only $1bn-plus tech "unicorns". It has raised millions of pounds from external investors, and was one of the biggest objector's to the tower's name change back in 2014.
The row over the renaming of the building escalated after the owners of the Heron Tower at 110 Bishopsgate announced in May that it would be known as Salesforce Tower as part of a deal that saw the US cloud software firm become its biggest tenant.
Several tenants in the building including Powa were unhappy at having to use another company’s name in their details.
At the time of the name change Powa Technologies’ deputy chair Ant Sharp said it was “at best rude and at worse is contrary to the law and leases we signed.”
The firm has around 100 staff at its London HQ, and over 300 worldwide, but announced on Tuesday that it would be axing 74 members of the London workforce.
So, what will happen to Powa's place in the Heron Tower? A spokesperson declined to comment on the tech firm's tenancy agreement.