Outgoing Deem CEO Patrick Grady (LCT file photo)
SAN FRANCISCO, Calif. -- The new COO of e-commerce provider Deem plans to slim down the company’s product efforts from about 10 to three, keeping travel, expense, and car service (in both flavors, corporate and operator), according to a report in Tnooz.com
“We got into a little trouble in execution, with so many irons in the fire that the company was spread too thin, frankly,” COO John Rizzo said.
The streamlining means the 250-employee company will have to undergo some layoffs, he said.
The developments follow recent announcements of $34 million in new stopgap funding and the departure of its CEO and founder, Patrick Grady.