A C-level shakeup is underway at Zoom Information (profile; site), the parent of ZoomInfo, that appears linked to financial challenges at the business information search engine frequented by recruiters and marketers.
Sources tell us that Sam Zales, president and CEO of BuyerZone, a B2B supplier network and business lead generator, is reportedly about to be named president of ZoomInfo. He will replace Bryan Burdick, whose new role is unclear. The move has not been announced and neither Zales nor Burdick returned calls.
Burdick has been president at the company since April 2006, joining from Monster Worldwide where he was chief marketing officer – TMP. Zales has been with BuyerZone since 1999. He became president and CEO in July 2000. In 2006 BuyerZone was acquired by Reed Business Information.
Both BuyerZone and ZoomInfo are based in Waltham, Massachusetts, not far from Monster’s home in Maynard.
In the past few months three senior executives have left ZoomInfo. Most recent, in fact so recent that his name is still on the company website, is Michael Souza. He was sales VP for the company, joining in 2003 from Lycos.
Prior to Souza’s departure, Tad Goltra and Sam Tharp both left. Alums of Monster Worldwide where both were vice presidents, Goltra headed ZoomInfo’s recruiting business unit as VP and general manager and Tharp was VP and general manager of the search business unit.
It is not known why the men left ZoomInfo, though Tharp founded Otrib.com, a funeral and memorial site, before he joined ZoomInfo in 2007.
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The sources we spoke with tell us the company has financial difficulties that have been worsened by the contracting U.S. economy. One source said the company, which as recently as the second quarter of this year had plans to expand its workforce, now has what amounts to a hiring halt.
“Right now, there’s no hiring and there’s no growth,” says a source close to the company. However, job search site Indeed (profile; site) lists a number of openings at the company, mostly in technical positions.
Zoom Information was founded in 2000 by CEO Jonathan Stern and Michel Decary, senior scientist. It raised $7 million in 2004 from Ascent Venture Partners, Commonwealth Capital Ventures, Flagship Ventures, Venrock Associates, and Vulcan Capital. In 2007, when ZoomInfo participated at Demo, a conference showcasing emerging technology companies, it reported 2006 revenue of $10 million and said it was profitable. Hoover’s lists its 2007 revenue as $8.4 million.
Earlier this year it spun off its its advertising business, launching a new company, Bizo Inc.