Michael Schreck has departed as CEO of Boston-based e-commerce software firm Zmags, writes Boston Business Journal. Schreck left as CEO of the company in July. The company’s backers include OpenView Venture Partners and NorthCap Partners.
Michael Schreck has departed as CEO of Boston-based e-commerce software firm Zmags, a position which had brought the m-Qube co-founder back to Boston from the West Coast.
Schreck left as CEO of the company in July. Schreck and a Zmags representative could not be reached for comment. Zmags has yet to name a new CEO, according to its website.
Schreck joined as CEO of Zmags in February 2011, following eight years spent in California running a boutique private equity firm, Equity Pacific Group.
Before that Schreck had been a co-founder of two of the Boston area tech community’s notable companies of the time, Upromise and m-Qube. He was also a co-founder at Cambridge venture capital firm General Catalyst Partners and helped to raise the firm’s initial two funds.
Zmags’ technology aims to help retailers give customers a more engaging Web shopping experience online through a novel way of presenting rich media, with an emphasis on mobile shopping on the iPad. Customers have included Disney, Kenneth Cole and Honda. The company saw revenue of $11.8 million in 2011, according to its listing on the Inc. 5000.
When I spoke to Schreck in January, he reported that the company was in growth mode, with plans to expand from 110 employees to 200 by the end of the year. Schreck also said the company planned to raise a new funding round of $25 million in the spring, though no funding has been announced since then.
Founded in 2005 in Denmark, Zmags moved its headquarters to Boston in 2008 after receiving funding from Boston-based OpenView Venture Partners.