{"id":2879,"date":"2017-01-14T05:17:27","date_gmt":"2017-01-14T05:17:27","guid":{"rendered":"https:\/\/www.rsoftsolution.com\/blog\/timehop-founder-jon-wegener-replaced-as-ceo-by-design-lead-matt-raoul.html"},"modified":"2017-01-14T05:17:27","modified_gmt":"2017-01-14T05:17:27","slug":"timehop-founder-jon-wegener-replaced-as-ceo-by-design-lead-matt-raoul","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/timehop-founder-jon-wegener-replaced-as-ceo-by-design-lead-matt-raoul.html","title":{"rendered":"Timehop founder Jon Wegener replaced as CEO by design lead Matt Raoul"},"content":{"rendered":"


\n<\/p>\n

Some changes at the top of\u00a0Timehop<\/a>, the quirky app that shows\u00a0you reminders of photos and other content that you\u2019ve taken and posted\u00a0on Facebook, Twitter, Foursquare, Instagram and Flickr or from\u00a0your camera roll. TechCrunch has learned and confirmed that Jon Wegener, who\u00a0co-founded the company with Benny Wong, has stepped\u00a0down as CEO. He has been replaced by Matt Raoul, who had been Timehop\u2019s\u00a0design lead. Also, Rick Webb, who had been VP of monetization and an early investor in the app, is now the startup\u2019s COO.<\/p>\n

We were first told about the CEO change\u00a0by an anonymous tipster, who claimed the changes were made after an app update<\/a> in December bombed with users<\/a>. While we were finding\u00a0some proof<\/a> of the new roles, Wegener responded to a request for comment confirming his departure and the COO appointment.<\/p>\n

\u201cThere\u2019s a great team in place, and the company is profitable and healthy,\u201d Wegener\u00a0wrote.<\/p>\n

Webb also responded directly to say he had been\u00a0consulting at Timehop\u00a0for the last year \u201cbuilding out the revenue side\u201d. He also noted that the company is \u201con track to be permanently cash flow positive by March, with a mix of direct and programmatic ad sales.\u201d<\/p>\n

\u201cWe would also like to put to rest any concerns that Russia was involved in this transfer of power. It has been entirely peaceful and democratic,\u201d he added.<\/p>\n

Neither he nor Webb (nor a board member that we contacted) have answered our questions yet about what role (if any) Wegener will have at Timehop with the CEO change, nor why the changes were made.<\/p>\n

But some other reasons for\u00a0the\u00a0changes might be found in the company\u2019s numbers and more specifically the bigger competitive\u00a0forces that have swirled around it.<\/p>\n

Timehop was first founded in 2011 after Wegener and Wong built the basic coding of the app at a Foursquare hackathon with the original app name: \u201c4SquareAnd7YearsAgo\u201d to replay past Foursquare check-ins.<\/p>\n

The two had been working on another app together at Techstars but decided to switch to developing the Foursquare hack\u00a0into a full-fledged business after seeing a lot of positive response to the concept. They extended it to Facebook posts and then Instagram photos before merging everything into Timehop.\u00a0Eventually, it\u00a0the app added more content sources.<\/p>\n

Timehop caught on with millions of users, for whom it essentially\u00a0served as a kind of counterbalance\u00a0to the rise of Snapchat and its concept\u00a0of ever-disappearing, ephemeral content. It was a fun, easy and instant\u00a0archive, welcomed and used in a world otherwise filled with fast-moving, always-updating information and a lot of fragmentation, with pieces of our digital selves deposited across a multitude of places.<\/p>\n

Timehop eventually raised just over $14 million<\/a> in funding, with investors including Shasta Ventures, Spark Capital and Oreilly AlphaTech Ventures, as well as a number of individual investors, including Foursquare\u2019s Dennis Crowley and Naveen Selvadurai, Alex Rainert and Randi Zuckerberg.<\/p>\n

But unfortunately,\u00a0having a Zuckerberg on the cap table wasn\u2019t enough to keep Facebook\u00a0from moving in.<\/p>\n

In March 2015, just after\u00a0Timehop hit 12 million downloads and 6 million daily users, the world\u2019s biggest social network launched its own version of Timehop\u00a0just for Facebook posts called On This Day.<\/p>\n

As you can see in this table we\u2019ve put together with data from Apptopia<\/a>, Timehop\u2019s own usage gradually began to decline on both iOS and Android after that point:<\/p>\n

\"timehop-numbers1\"<\/p>\n

Further to this, data provided to us by\u00a0Sensortower<\/a>, showed that downloads in the U.S. between Q4 2015 and Q4 2016 declined by 38 percent across the two major mobile platforms combined. Sensortower also provided the merged figures in a table of weekly downloads, which also illustrates the drop pretty well:<\/p>\n

\"timehop-weekly-downloads\"<\/p>\n

This\u00a0essentially goes to show that Timehop has been relying more than perhaps other apps on having strong loyalty and engagement from existing users, and could explain\u00a0why having a poor response from those users would have been an especially bad\u00a0turn of events.<\/p>\n

Timehop, now under the charge of a new executive team, says it is quietly getting profitable, and I sincerely hope that is the case. For now, it appears to be doing so on a far smaller scale than its outsized\u00a0competitor.<\/p>\n

A year after Facebook launched On This Day, it noted 60 million daily visitors<\/a>\u00a0and 155 million subscribers (perhaps not\u00a0that hard when your user base is approaching\u00a02 billion people, and you\u2019ve quickly become a default location for where many browse online and already share pictures anyway). It\u2019s only anecdotal, but I feel like I\u2019ve been getting pushed many more of these nostalgic On This Day post suggestions\u00a0lately, and have seen more of them getting shared \u2014 perhaps one of the ways that Facebook is trying to make sure more of us engage on its platform.<\/p>\n

Additional reporting Katie Roof<\/em><\/p>\n

<\/p>\n

Article source: http:\/\/feedproxy.google.com\/~r\/techcrunch\/social\/~3\/G1j55nyysIg\/<\/p>","protected":false},"excerpt":{"rendered":"

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