Four of Lot18’s senior executives have left the company in the past month.
We’ve confirmed the recent departures of two senior directors, its VP of engineering and its CMO with Lot18.
Lot18 already has a new CMO, Jay Sung, who was the former president of Adaptive Marketing. He stepped into the role in April.
The two senior directors under the former CMO, Tiffany Luck and Ran Tao, also departed to cofound a new startup, Inubar. They’ve also been replaced by two new directors, VP of Marketing Craig Davis and VP of Advertising Geoff Huntting, who joined Lot18 in May.
Lot18 has been searching for a CTO for the past few months but until the position is filled, its engineering team is reporting to Andrew Koch, Lot18’s VP of Products.
Some of the turnover seems planned; it’d be hard for Lot18 to replace executives, like a CMO, so quickly if it wasn’t.
But sources suggest the company has a culture problem and that others are looking to leave. “I finally left after one of the most frustrating experiences I’ve encountered in the tech industry,” says one departed employee.
Sources say growth at the company has slowed but we’re told revenue is ahead of where it was this time last year.
Lot18 is a discount wine site based in New York City with more than 100 employees. Last year, Lot18 pulled in $25 million in total revenue. It raised $30 million from Accel in October.