Updated below: Original post on Dec 23: In and of itself, not a big deal, but symptomatic of the bubble (bursting) in video sharing sites. Earlier this week the news of two founders of Revver leaving, and now another hyped-site Guba‘s outspoken CEO and co-founder Tom McInerney is leaving, reports Om. Eric Lambrecht, co-counder and CTO of GUBA is going to take over as the CEO of the company. McInerey is exiting out of the technology sector completely, it seems.
Guba started in 1997, and then morphed into a video sharing and movie download site, following the rise of online video sharing and YouTube.
Updated on Dec 28: News.com has some more details on this: “I think we can all acknowledge that YouTube has won the big prize,” McInerney said. “Guba is at a crossroads and we’re deciding whether to look for funding or to sell. I think we’re inclined to sell.” McInerney said that members of his executive team are considering whether to step down. The reason, McInerney said, is that Guba stands little chance of striking an acquisition deal as lucrative as YouTube’s.
Related:
— Guba Fishes For More Studio Deals With Price Cuts
— Video Sharing Sites vs Hollywood: Handshakes vs Martinis
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