Former Ustream employees are starting to paint a clearer picture of what Ustream was like under CEO John Ham before he left on Friday.
Stephen Loase, a former IT engineer at Ustream, posted a link to TechCrunch’s article about Ham stepping down on Facebook. Here are some of the reactions:
- Loase: “Can you like an article more than once?”
- Former director of sales Ed Dischner: “Are we allowed to like the article of John Ham stepping down?”
- Former account manager Eric Weis: “If they received more $$ from Softbank and DCM… does that mean they burned through the other $75M? $100M+ in funding… I am dying to know what the latest valuation was at.”
- Former facilities coordinator Dan Neumeister: “They had their Softbank money pulled while go I heard… like only got 25 of the 75…??”
- Senior editor Joanna Dorfman: “Is it wrong to LOVE this entire conversation?”
With Ham at the helm, Ustream reached 60 million uniques and raised $97.8 million. Ustream raised another $10 million last month to expand into South Korea. Ham told Kincaid that the site should be profitable next year and has 150 employees. Ham co-founded the company in 2007.
A source familiar with the matter said the investors in Ustream’s most recent round might have wanted someone who was familiar with premium content deals.
Reviews on GlassDoor.com — a site for reviewing workplaces — suggest Ustream was a “bro’s club” and Ham wrote off his employees. No one goes to GlassDoor.com to say anything nice and this is only one side of the coin — these could easily be employees that were passed up for promotions or employees with an axe to grind. But we did hear from one source that the reviews were accurate for a time in Ustream’s history.