Bitly CEO Peter Stern Steps Down From the URL Shortening and Analytics Company
In a statement on its blog today, Bitly has announced that CEO Peter Stern has stepped down as CEO. The reason is that Stern is to “pursue other interests” further details aren’t known at this time.
The NYC-based company has raised $28.5 close to $23 million to date, with the last round being a monster $15 million one by O’Reilly, RRE and Khosla last July.
Stern was the CEO for a little over a year, after founding Zenbe, a mobile collaboration company with mail, shareflow and list services.
Bitly was in the driver’s seat for link-tracking analytics with its popular short-URL service, and the definition of a hot startup. Once the social web took off, marketers and advertisers everywhere clamored for ways to see how their campaigns were doing in real-time. Bitly has since cooled off since services like Twitter have started handling their own short URLs. In January, the company announced a new set of social-tracking APIs for developers in the hopes that its service would be included in other hot metric products.
Regardless, this definitely seems like an odd time for a CEO to get bored and move on, so we’re digging for more details