Oversee.net sent out a notice today that Jeff Kupietzky is out as CEO of Oversee.net come the end of August.
Of course I knew this was coming and its really a shame how far a major, maybe the biggest company in the space has fallen so quickly.
Several few years ago I sat in room at the first DomainFest with Jeff and the VC folks, Oakhill, who had just invested $150 million into Oversee.net and had a nice chat about the domain business.
I remember Jeff saying to the suits something like Mike’s company is one of the leaders in the space and an acquisitions we should be looking at with the investment you just made.
Mike is the 1st guy in the space I’m introducing you to.
At the time it was just a few week after the investment into Oversee was made.
The company was riding high, they were the king and flush with cash.
So while many will cheer that the king is dead, its kind of sad to me.
I know where this company was in that space and time.
They had an opportunity a chance that few of us will ever have and the resources to carry it out.
I was in the room.
With the right moves they could have continued to flourish.
Now almost every executive who was with the company is gone.
IMHO the company is just a shadow of its former self.
and instead of celebrating, it makes me sad.
Here the rest of the release that was sent to the usually blogs:
“According to the release the day-to-day operations and strategic vision for Oversee will be led by the company’s Co-Presidents, Debra Domeyer and Scott Morrow.
“They are supported by an operating committee which includes CFO Liz Murray, and General Counsel Todd Greene.”
“On behalf of the Board and all Oversee employees, I thank Jeff for his service to the company,” said Board Chairman and Oversee co-founder Lawrence Ng. “He successfully navigated the company through some difficult challenges and positioned it as an industry leader. We all wish him the best of luck in his new home and as he continues his successful career.” Mr. Ng also expressed his confidence in the company’s leadership: “We feel extremely fortunate to have such a talented team of executives who are well respected throughout the industry. We are extremely confident in their knowledge and capabilities, as well as their passion to lead us to our next chapter of growth.”