Brad Bostic Steps Down From ChaCha
Amit Chowdhry | Sunday May 3, 2009 | 1,442 views| Add a Comment
ChaCha was created by Brad Bostic and Scott A. Jones. ChaCha is a mobile question answering service that transformed their business multiple times. They started out as a search engine where humans would help people find their results. Then it turned in to a mobile calling company where you tell an automated guide what you are looking for and someone will send you a text message with the answer. Now you send text messages to them and then they text message you back.
The company has $43 million in funding from Jeff Bezos, Indiana’s 21st Century Technology Fund, Morton Meyerson, Scott Jones, Simon Properties, and other undisclosed investors.
Brad Bostic, co-founder of the company is stepping down as the President of the company. He will not be replaced according to TechCrunch. He will remain as an advisor and strategist to the company. It is likely that Bostic had become fed up that the company has not been profitable even though they have laid off one-third of their work force. Although the company is not profitable, they are cash flow positive and there has been consistent growth in the audience.
ChaCha’s latest round of funding was in March 2009 and that is when they announced a major reduction in staff.
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