Roughly eight months after shepherding the sale of newsletter publisher DailyCandy to Comcast (NSDQ: CMCSA), paidContent has learned that start-up vet Pete Sheinbaum is leaving as CEO effective Friday. Sheinbaum started as an adviser to founder Dany Levy in 2000 when the company had 700 subscribers. He became CEO in 2003 when Bob Pittman's Pilot Group invested $3.5 million in the company, which then had about 250,000 subs. During that time, DailyCandy launched 28 editions and now has nearly three million subscribers. Comcast Interactive Media bought the company in August 2008 for a reported $125 million.
Reached by e-mail Tuesday night, Sheinbaum confirmed his decision to leave but said no plans have been made for his replacement. Why now? "I love to build and grow companies, this is my third startup since 1997. I will be looking for some new opportunities either helping existing companies or perhaps another startup, utilizing what I have learned along the way."
By Staci D. Kramer