Shawn Fanning and Eric Feng Step Down From Airtime
Even though Airtime raised a lot in funding, through a launch event with many celebrities, a viral video commercial with a lot of celebrities, and added video posting/conversation history, and buddy lists, the company still continues to struggle. The CTO of the company Eric Feng is exiting the company and so is Airtime co-founder Shawn Fanning.
Shawn Fanning co-founded the company with Sean Parker. Parker and Fenning are known as the golden entrepreneurs that created Napster in the late 90’s and early 2000s. Parker was so focused on Spotify while Airtime launched and Fanning is no longer day-to-day at the company even though he has ownership. It is unknown what Fanning is doing nowadays.
Airtime had raised $33 million from Kleiner Perkins and their product launched around 3 months ago. The company has around 11,000 daily active users. “Running a start-up is like eating glass. You just start to like the taste of your own blood,” said Parker in an interview with AllThingsD about Airtime.
“We are iterating on our approach,” said Parker in the interview. “Airtime is finally getting around to some of the bigger ideas that got me interested in this project in the first place.”This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry