Bit.ly, the data company best known for helping its customers understand who is clicking on their links, announced Monday that CEO Peter Stern will be stepping down. The company did not give much explanation for Stern’s departure in a short blog post Monday:
“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.””
Stern was previously the founder and CEO of Zenbe, a mobile and web-based collaboration service that was acquired for talent by Facebook in 2010.
Bit.ly released a new API in January to allow companies to track the flow of news and information on Twitter and across the web, and has been focused on providing more real-time analysis. We’ll be talking about some of the challenges associated with real-time data at our Structure Data conference next week in New York City.
“Bit.ly is in a great position to see this kind of social data. We see a slice of what people are sharing and reading across the social web. So this is a way to start to put that power in the hands of people who can build interesting things with it,” Hilary Mason, Bit.ly’s chief scientist, said in an interview in January.
Bit.ly is a company that grew out of Betaworks, and it shortened 8.4 billion links in 2012. Bit.ly raised $15 million led by Khosla Ventures this summer and has rasied more than $28 million in total.