{"id":6431,"date":"2017-06-11T06:47:06","date_gmt":"2017-06-11T06:47:06","guid":{"rendered":"https:\/\/rsoftsolution.com\/blog\/postmates-acqhires-secret-ceo-david-byttows-startup-bold.html"},"modified":"2017-06-11T06:47:06","modified_gmt":"2017-06-11T06:47:06","slug":"postmates-acqhires-secret-ceo-david-byttows-startup-bold","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/postmates-acqhires-secret-ceo-david-byttows-startup-bold.html","title":{"rendered":"Postmates acqhires Secret CEO David Byttow\u2019s startup Bold"},"content":{"rendered":"


\n<\/p>\n

The founder of one of Silicon Valley\u2019s most famous flameouts, anonymous social app Secret, is the new product lead for Postmates\u2019 app. After Secret shut down<\/a> and gave investors back their money, David Byttow went on to raise a $1 million seed round from Index to launch a blog publishing tool for enterprises called Bold<\/a>.<\/p>\n

Today Bold was acqhired by Postmates, Byttow confirmed to TechCrunch, with he and co-founder Ben South Lee (also formerly of Secret) joining the delivery startup.\u00a0Bold will shut down, killing off its enterprise blogging tool and writing assistant, plus the anonymous publishing space IO<\/a>.<\/p>\n

\n

Very excited to welcome @davidbyttow<\/a> and @SirBenLee<\/a> to the Postmates family.<\/p>\n

\u2014 Bastian Lehmann (@Basti) June 10, 2017<\/a><\/p>\n<\/blockquote>\n

\n

Byttow will lead product for Postmates\u2019\u00a0customer-facing app, while Lee leads design for it. \u201cPostmates is gonna slay\u201d Byttow DMed me, elaborating that \u201cI think Postmates is in a very unique position to leapfrog itself and continue be the leader in the on-demand delivery space. That\u2019s why Ben and I joined!\u201d Postmates confirmed the acquisition to us, and pointed to CEO Bastian Lehmann\u2019s tweet above welcoming Byttow and Lee to the team.\u00a0<\/p>\n

In Secret\u2019s hyped-up heyday, it raised a $25 million Series B. Byttow notoriously took $3 million off the table during the round and convinced co-founder Chrys Bader-Wechsler to do the same. The idea was that the cash would make Secret\u2019s founders less likely to sell the company early. Instead, less than a year later, Secret had imploded, raising questions about the practice of founders cashing out early.<\/p>\n

But clearly Silicon Valley is willing to forgive such behavior if someone has the necessary skills in today\u2019s competitive recruiting market. Postmates is trusting Byttow and Lee at a critical time for the company. Having raised a $160 million Series D last year, Postmates must prove it can build a sustainable business despite the on-demand delivery space\u2019s tough unit economics.<\/p>\n

Once upon a time, Byttow convinced 15 million to use a controversial app in another risky market. Postmates will have to hope Byttow can similarly drive traction of its app while letting someone else handle the business.<\/p>\n

<\/p>\n

Article source: http:\/\/feedproxy.google.com\/~r\/techcrunch\/social\/~3\/hAcQZFwNc3Q\/<\/p>","protected":false},"excerpt":{"rendered":"

The founder of one of Silicon Valley\u2019s most famous flameouts, anonymous social app Secret, is the new product lead for Postmates\u2019 app. After Secret shut down and gave investors back <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[3],"tags":[10,7,14,15,6,12,11],"class_list":["post-6431","post","type-post","status-publish","format-standard","hentry","category-latest-update","tag-computer-news","tag-downloads","tag-microsoft-download-news","tag-networking-updates","tag-technology-update","tag-wordpress-plugin-download","tag-wordpress-theme-download"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t