Today, Bitly has announced that its CEO, Peter Stern, has stepped down as CEO in a statement on their blog. The reason is that Stern is pursuing other interests, although other details aren’t known at this time.
The NYC-based company has raised $28.5M to date, with the last round being a monster $15M one by O’Reilly, RRE and Khosla last July.
Bitly was in the driver’s seat for link-tracking analytics with their popular short-URL service, and the definition of a hot startup. Once the social web took off, marketers and advertisers everywhere clamored for ways to see how their campaigns were doing in real-time. Bitly has since cooled off since services like Twitter have started handling their own short-URLs. In January, the company announced a new set of social tracking APIs for developers in the hopes that its service would be included in other hot metric products.
Regardless, this definitely seems like an odd time for a CEO to get bored and move on, so we’re digging for more details:
Bitly is announcing today that Peter Stern has resigned to pursue other interests.
“Peter has been a key leader and contributor to the Company,” said Bitly Board member Sam Mandel. “In particular he has been instrumental in transforming Bitly into a successful business while growing its unparalleled data set. We are very happy that he will remain a shareholder and supporter.”
We’ve reached out to Bitly for more information, such as when the process will start to find his replacement.
More soon.
via TechCrunch » Startups http://feedproxy.google.com/~r/techcrunch/startups/~3/2AO5hKICkLE/
No comments:
Post a Comment