UPDATE: BeachMint president Diego Berdakin spoke with us about the departure of his CMO. He says the startup is doing “phenomenally well” and that none of Volturo’s shares have been sold since his departure.Things are shaking up at BeachMint, the social commerce subscription platform, as CMO John Volturo left and Greg Steiner is climbing on board as COO.
Michael Carney of PandoDaily pointed out that it seems odd that Volturo would leave the company he helped grow into a multimillion-dollar-revenue business right after they just scored Series C funding of $35 million.
Volturo, who’s starting a company called Scriball, posted this on his LinkedIn Profile:
What am I doing now? I’m getting ready to launch something groundbreaking. Keep watching! What did I do for the past two years? I ran the hottest, sexiest, most-talked about marketing team in Silicon Beach at BeachMint.
Is Volturo looking to liquidate his shares in the company? His recent activity on LinkedIn shows him connecting to a liquidity company called Millennium Technology Value Partners, according to the PandoDaily post.
It’s a natural thing for startup executives to sell shares to raise money for their next thing. But a few sources told Carney that they believe Volturo lost confidence in BeachMint.
BeachMint hasn’t yet announced a replacement for Volturo, but it did just announce the hire of Steiner as COO.
BeachMint operates six shops curated by various celebrities: JewelMint, StyleMint, ShoeMint, BeautyMint, HomeMint, and IntiMint.
The company has raised $73.5 million to date, according to CrunchBase.