Swoopo Bids Farewell to Its CEO

The pattern is already well known: new investors let go of old CEOs. In the long run, even Korea hasn’t offered a solution for Swoopo.

In the press release from a couple of days ago (per email):

“Gunnar Piening, who successfully led the Entertainment Shopping AG since the end of 2007 as CEO, leaves the company in mutual agreement.

As of now, Frank Han, formerly CEO for North America and Dr. Ralph Werner, already since the beginning of May Chief Operating Officer, will lead the company together.”

eToys founder Frank Han and ex-eBay/Mobile.de manager Ralph Werner have been on board at Swoopo since August Capital Partners stepped in.

Gunnar Piening had changed the name from Telebid to Swoopo, offered direct purchases to empty handed bidders and has otherwise expanded as much as possible. It remains to be seen what the new bosses are going to come up with to lead Swoopo to enduring success. Its already the fourth management swap in the history of Swoopo/Telebid.

In 2008, Swoopo, along with its Penny Auctions, generated revenues of 22 million euro.

Related posts:

• SpreadBooster Plans Shopping Experience for the Masses
• Top 500 Shops: Swoopo Nabs 10 Million in Financing

Originally posted in German by Jochen Krisch, adapted for excitingcommerce.com by Jason Soo.

Comments

[Tony]

Farewell or not, they are facing steep competition from big players such as Haggle.com and a few others.