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May 27, 2008

Failed coup leads to nice payday for Kadoink founders

Founders of social mobile site Kadoink, Billy Waytena and Eric Stone have apparently been given the boot after a failed attempt at a coup against the hired-gun CEO Scott Cahill.

According to a Valleywag story, the two attempted to oust Cahill, but ended up leaving the company after the board reportedly sided against them.

Fortunately for “Billyway” and “Stone” (as they are labeled on Kadoink’s about page), they’ll be leaving the company with a 1.5 million dollar payoff.

Check out Kadoink’s page to see why they’re getting the better end of this deal.

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Posted in Power Struggles by Christy
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Starring: Billy Waytena, Eric Stone, Kadoink, Power Struggles, Scott Cahill
May 19, 2008

Red Herring evicted

Employees waited outside as sheriff’s deputies evicted second-rate tech magazine Red Herring out of their Belmont, California office.

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Posted in Downfalls by admin
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Starring: Red Herring
“This is an act of mercy....truly” - Francis Urquhart
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