Revver CEO Steps Aside

Shuffle comes amid steep competition among user generated video sites.
By Alexandra Berzon
Video hosting site Revver said Friday that founder Steven Starr will step down as CEO, but remain board chairman. Mr. Starr's move comes as Revver has failed to keep pace with larger rivals and more nimble upstarts, and follows the departure last December of the company's other two founders. COO Kevin Wells was named as Revver's new CEO. Mr. Starr said he has been working for a long time on transitioning away from management, into a position that would allow him to work on big-picture relationships and new directions. Mr. Wells joined the company in September after founding aviation technology startup Naverus, and managing teams at Disney. Los Angeles-based Revver has raised almost $13 million from Draper Fisher Jurvetson, Draper Richards, Bessemer Venture Partners, Comcast Interactive Capital, and Turner Broadcasting. "This is when we transition from a startup to a business," said Mr. Starr. But to skeptics, the timing of the shuffle is notable given a December shakeup that saw Revver's other two founders—Ian Clarke and Oliver Luckett—leave the company.