Socialtext Names Eugene Lee As CEO; Announces Close Of Series C Funding

Nov 06, 2007

Socialtext named Eugene Lee CEO and member of the board of directors. Prior to joining Socialtext, a provider of enterprise wiki and social software solutions, Lee held senior management positions at Adobe, Cisco, and Banyan Systems, and was cofounder of Beyond Incorporated. Founding CEO and Web 2.0 visionary, Ross Mayfield, will transition to the role of chairman, president & cofounder to enable Lee to target the next level of profitability and growth for Socialtext. Lee will assume day-to-day management and operational control over all aspects of Socialtext's business, including driving product direction and development, strategic alliances, and scaling the sales, marketing and support organizations globally. Lee's appointment comes on the heels of Socialtext closing a Series C funding round of $9.5M from existing investors, led by Draper Fisher Jurveston (DFJ) and including Omidyar Network and SAP Ventures.