While Wright will remain a board member and shareholder of the venture-backed startup, he already has a replacement: Elaine Kunda will take over the reins as CEO from this point forward.
The decision apparently stems from the beginning of this year, when Wright took a short vacation and went offline for about 10 days. He writes:
I did it because I was tired, burnt out and recognized that my life wasn’t what I wanted it to be. I was working too much, unhappy at home, unhappy at work and just felt completely blah. Basically I did it because a friend asked me what I wanted my life to be… It was then that I realized not only was I unhappy, but that I had no idea what I wanted my life to be.
But at least the network as a whole is holding up, with comScore estimating 5.8 million worldwide unique visitors in May, 2009, up from 2.7 million last August. I had a brief chat with Wright, and he assured me revenues and traffic are holding steady, though he refused to detail either one.
CrunchBase tells us b5media has raised $2 million in venture funding to date, but since he mentions “millions and millions of dollars” in his blog post I wanted to find out if it was actually more than that. Wright confirmed that the total amount of capital invested in the company is in fact higher than the listed $2 million, but refused to disclose any new investors, let alone any amounts.
Wright is moving on to new things, and in the meantime will run a consultancy agency of sorts along with some other people. The name of the short-term venture he will be shifting most of his attention to from now on is netmobs.