How Vibrant Media’s Executive Team Vanished in One Day
Posted in: UncategorizedYou hear about the hirings, the fundings, the skyrocketing valuations and exits. But for every $1 billion dollar IPO, there are dozens of companies that never get close. They spark, they sizzle, and then they go flat, or worse.
One of those companies is Vibrant Media, a former rising star in ad-tech that built a $100 million dollar business selling in-text ads before native advertising and real time bidding rose to prominence. Vibrant is still alive but stagnating, and one day last month the company’s problems came to a head.
On a mid-October afternoon, Vibrant’s employees were called into an all hands meeting and told that the company’s COO Martin Forbes, CTO Tom Iler and CRO Sheila Buckley would all be leaving. The departures of Mr. Iler and Mr. Forbes were voluntary, according to a source with knowledge, while the company’s board was behind the ousting of Ms. Buckley and Vibrant’s former CEO, Cella Irvine, who had been dispatched weeks earlier.
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