Video streaming site Ustream co-founder John Ham is stepping down as CEO to go work on a new startup.
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.
He isn’t stepping down because of a gripe with the company, though. TechCrunch’s Jason Kincaid writes:
Ham says that the decision to step down is one he made entirely on his own accord, and that the company has been preparing for his transition for the last 2-3 months… He says that he’s ready to scratch his entrepreneurial itch again, and will be announcing a new startup he’s working on by the end of the year. He isn’t talking about the new company just yet, other than to say he’ll be starting it with an (unnamed) founder of a social gaming company.
With Ham at the helm, Ustream reached 60 million unique 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.
One source familiar with the matter said the reviews on GlassDoor.com — a site for reviewing managers and workplaces — were accurate for a time in Ustream’s history. Remember, 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.
That being said, the reviews paint a picture of a management that was stumbling around and a CEO that wrote off his employees if they disagreed with him. Here are some of the most interesting quotes:
- “[Ustream is a] total bro’s club. Don’t bother if you’re female or want to push the envelope.”
- “If you disagree with the CEO, he either writes you off as an idiot, or he will fire you.”
- “It’s extremely clear that they thought they could make a quick buck and sell.”
- “Incredibly poor management and leadership. Very little (if any) interest taken by senior management to help grow, develop and reward staff.”