As of now, the brand of custom social network service CollectiveX is no more, and the "social collaboration communities" of Groupsite.com have taken its place. Obvious names for social web platforms may not be all the rage (Ning, anyone?), but a move to Groupsite/s will definitely be a boon for communicating what the service is all about.
The free public or private social networks, with the pro package for enterprises, will remain essentially the same, just with a new identity wrapped around it. CollectiveX networks previously hosted as subdomains should already be migrated to the new Groupsite.com
Thus, the company has dropped its original name in favor of taking up the name it gave to its product, one that more quickly communicates what the startup is all about.
In a word, yes.
A more complementary brand for the service should likely increase its ability to compete with other players in the realm of private social networks, such as Ning. An identity that just makes intuitive sense is nothing to sneeze at, and can have a lasting impression.