motricity

Shares of Motricity plummet after AT&T ends key contract

Motricity lost more than one third of its value today, following news that AT&T was terminating an agreement with the Bellevue-based mobile software company. AT&T’s portal agreement, which is being terminated, accounted for 42 percent of Motricity’s revenue during the first nine months of 2012. Motricity powered AT&T’s MediaNet and ATT.net offerings as part of the… Read More

motricity

Facing Nasdaq delisting, struggling Motricity proposes reorganization plan

Facing a delisting notice from the Nasdaq Stock Market, struggling mobile software company Motricity is currently weighing a reorganization plan in which it would become a wholly owned subsidiary of a newly-formed Delaware corporation by the name of Mobile Systems Corp. In a SEC filing today, Motricity said that it received a delisting notice from the… Read More

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Tech Moves: Motricity CEO leaves; Intel’s Otellini to retire; and more

Struggling mobile software company Motricity has replaced interim CEO Jim Smith, handing the reins over to Richard Stalzer. Stalzer previously served as president of the company’s Mobile Media division. Meanwhile, chief financial officer Nathan Fong has added the responsibilities of chief operating officer and general counsel Richard Sadowsky has been named chief administrative officer. “After restructuring… Read More

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Motricity to terminate lease at downtown Bellevue HQ

Motricity, the mobile software company, has entered into a lease termination agreement for the 8th, 9th and 10th floors at its Bellevue headquarters, a SEC filing revealed today. The struggling company plans to give up the 8th floor space at 601 108th Avenue Northeast at the end of this year, with the 9th and 10th… Read More

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Tech Moves: Zumobi taps marketing VP; Motricity adds mobile marketing vet; and more

Zumobi, a maker of mobile applications for companies such as MSNBC, Motor Trend and others, has named Marla Schimke as vice president of marketing. Schimke previously worked at AudienceScience, Microsoft and Ernst & Young, and in her new role will help the Seattle company launch new advertising products and premium media properties. “We’re absolutely delighted to… Read More

motricity

Struggling Motricity restructures operations, pulls the plug in Asia

Motricity, the struggling Bellevue maker of mobile software, has restructured its business and decided to close down its operations in Asia. Interim CEO Jim Smith said the moves will “lay the foundation for long-term success and reignite growth.” Motricity has taken it on the chin in recent months, losing key contracts, axing top executives and… Read More

Reed Hastings

Tech Moves: Reed Hastings hands over chairman reins at DreamBox Learning; and more

Reed Hastings is one busy guy. In addition to running Netflix, the Internet entrepreneur also serves on the boards of Microsoft and Facebook. But most folks probably don’t know about Hastings’ involvement in a tiny Bellevue educational software company called DreamBox Learning, which he helped acquire last year. Now, Hastings has handed over the chairman… Read More

Ryan Wuerch

Exec turmoil continues at Motricity as CEO Ryan Wuerch steps down

Ryan Wuerch has stepped down as CEO of Motricity, the publicly-traded Bellevue mobile software company that he’s run for a decade. The 43-year-old executive, who founded the company in 2001, also resigned from the board. The resignation comes amid an ongoing executive shakeup at the struggling company, one which has led to the resignations of… Read More

motiricity

Motricity posts disappointing Q2 results, terminates execs and hints at cost-cutting measures

Shares of Motricity fell more than 50 percent in after hours trading today following a disappointing second quarter earnings report. The Bellevue company posted a net loss of $4.3 million on revenue of $34.6 million, with CEO Ryan Wuerch saying in a release that the company was “clearly not satisfied with the company’s financial performance… Read More