/// Bit.ly Gets a New Boss [MediaMemo]

May 16, 2011  |  All Things Digital

Bit.ly has raised $14 million in a few years, and shrinks more than 8 billion Web addresses a month. And it’s done all that without anyone running the company full time. Until now. Technology vet Peter Stern, whose last startup ended up being acquired by Facebook, is Bit.ly’s first official CEO. He’s taking the reins from Betaworks CEO John Borthwick, who helped hatch Bit.ly as one of his incubator’s projects and has overseen it since, while juggling lots of other balls at the same time. Stern founded Zenbe, an e-mail startup that Facebook acq-hired last fall , but most of his resume predates the Web 2.0 era: He was co-founder of online brokerage Datek Online, and prior to that he helped build “cool electro-optic sensors and devices, most of which are classified.” Bit.ly doesn’t make a whole lot of money helping publishers shorten their Web addresses, but it does get its hands on lots of data about stuff people share with each other on the Web

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Bit.ly Gets a New Boss [MediaMemo]

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