Leads are coming in fast and furious on this one: Peter Adderton, the outspoken founder and CEO of Amp’d Mobile MVNO he founded three years ago, is possibly leaving. We got a tip a few days ago, and Valleywag had a similar rumor post on it earlier today.
The company, which has already raised five rounds (the fifth one was a big $107 million), is now raising another big round, our sources have told us, and has a big board as a result of the multiple investors involved (close to 20, from what I know). The difference of opinion between the various parties on the board and what Adderton wanted to achieve with the financing and company growth might have been one of the factors in this. From what I understand through sources, it was about previous investors not wanting to invest more money, certainly not at the valuation Adderton wanted, and getting crammed out. More as we find out more…this is still a fluid situation.
In terms of whether the company, synonymous with Adderton, will survive if indeed Adderton has left, it does have some solid management in place beyond him now. COO Sue Swenson is the former COO of T-Mobile USA and came into the company October last year; Bill Stone, the president, is well respected and former VP at Verizon Wireless; and others. Of course, whether Ampd’s as an MVNO makes business sense is a valid question, and had valid “yes” and “no” arguments around it.
(Picture: Peter was a speaker at our EconSM conference last month, and him in a pensive mood at the speakers dinner the night before).