BigDoor, a Seattle startup that was an early leader in technologies to help large brands implement loyalty programs, has been sold to an undisclosed investment firm.
The deal closed last month, but it was just disclosed this week in a blog post by co-founder Keith Smith.
Smith, who previously founded 180Solutions, is leaving the CEO role and handing the reins to CTO and co-founder Jeff Malek.
“Concurrent with our sale, we embraced a new operating plan that required us to make some reductions to our expenses, so we regrettably said goodbye to a few amazing members of our team, but the bulk of the BigDoor team is still here and still doing unbelievably great work,” Smith writes in a blog post. “During that process it became increasingly clear to both Jeff and me that this was a perfect time for BigDoor to adopt new leadership, so we began working with our board and new investors on a plan for me to step aside and for Jeff to move from CTO to CEO.”
Smith said he will remain on the BigDoor board, and on Malek’s “speed dial.”
It also appears as if Smith is headed to New York to become CEO of a startup, according to a Tweet from former BigDoor Chief Marketing Officer Joanna Lord. We’ve reached out to Smith to learn more, and we’ll update this post when we hear back. UPDATE: Smith said he’s not quite ready to talk about his new gig, but should be ready in a few weeks.
BigDoor raised $5 million in 2012, bringing total funding in the startup at the time to $13 million. Backers included Foundry Group, Founder’s Co-op and others, bringing total funding in the 3-year-old company to $13 million.
“The optimism I have for Jeff and for BigDoor outweighs any sadness that I feel as I say goodbye to an incredible team of dedicated, brilliant, hard-working folks,” says Smith in his blog post. “I can’t wait to see what happens now.”
Editor’s note: BigDoor is a GeekWire annual sponsor.
