The Polyvore Founders Give Way To Professional CEO
Mar 3rd, 2010 by admin
Be it Spreadshirt, Threadless, Etsy or now Polyvore, nowadays you can set your watch against the time it takes between a big round of financing and the point where investors lose their patience and get a professional CEO to take the reins.
Picture of The Polyvore Founders Give Way To Professional CEO [source:excitingcommerce.com]
And it isnt as if they arent making enough efforts:
"A very high-profile hire for fashion site Polyvore.
The startup, which lets users mix and match products from any online store and then share their creations with others, has added Sukhinder Singh Cassidy, who formerly led Googles operations in Asia-Pacific and Latin America, as CEO.
Singh Cassidy had left Google in April in order to become CEO-in-residence at Accel Partners, saying that she was ready to take the next step and run or grow my own company. "
Polyvore has recently celebrated their third anniversary and had received a financing round of $5.6 million last August from Matrix Partners and Benchmark Capital.
Almost all social shopping sites of the first generation are finding it difficult to meet investors high expectations and are at the moment in the process of rethinking their strategies.
And although it repeatedly seems to make sense to bring in an outside CEO to professionalize the company, there is also substantial risk that the startup can lose their spirit in the process.
At least with Etsy, one of the founders was asked to come back and plans now to make innovative changes.
Social Shopping Strategies: ThisNext, Stylehive, Stylefeeder, Kaboodle, Etsy Polyvore Raises $5.6 Million in Second Round, Fashion Playtes $1.5 Million Social Commerce: Etsy Returning To Its Roots
Originally posted in German by Jochen Krisch, adapted for excitingcommerce.com by Jason Soo.[source:excitingcommerce.com]
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