Revver, which has seen the departure of many of its prominent founders, employees, and content producers, tonight announced its final remaining founder, Steven Starr, will be stepping back from his CEO role and assuming the position of chairman of the startup’s board of directors.
The company is substituting COO Kevin Wells in the CEO role, effective tomorrow. That marks the completion of Wells’ ascendancy, following a late start at the two-year-old company. He joined last fall in conjunction with the departure of founders Ian Clarke, Oliver Luckett, and other members of the staff.
Revver was perhaps most notable prior to Wells’ involvement, when it was the pioneer of revenue-share arrangements with video creators. Its innovation of paying users has been highly influential.
“Steven and I are squarely focused on developing Revver’s core strengths, making sure it remains the new media network of choice for future generations of content creators,” said Wells in a statement.
Recently, Revver lost its position as the preferred provider of popular video programs Ze Frank’s The Show, Ask a Ninja, and Invisible Engine. It also lost popular community advocate Micki Krimmel.
Along the way, Revver was involved in acquisition talks that fell through. The company raised about $13 million from Comcast Interactive Capital, Turner Broadcasting, Draper Fisher Jurvetson, Bessemer Venture Partners, Draper Richards, and William Randolph Hearst III, with its last infusion coming nearly a year ago.