Bain VC Jeffrey Glass named CEO at Skyhook, replacing founder Ted Morgan
Jeffrey Glass has departed Bain Capital Ventures to become CEO at Boston location technology firm Skyhook
. He replaces Skyhook founder Ted Morgan, who had been CEO of the company since it launched in 2003.
Glass, who'd been a managing director at Boston-based Bain Capital Ventures, is also well-known in the local startup community for his years as co-founder and CEO of m-Qube. The Watertown mobile marketing firm was acquired by Verisign in 2006 for $250 million.
"I love the investing side, but there's always been a part of me that knew eventually I'd get back into the operations side," Glass said in an interview Wednesday.
And Skyhook, he said, has the makings of a company positioned for major growth. "I had the benefit of doing something similar at m-Qube - where we turned it into a big company - so hopefully we will do the same with Skyhook," Glass said.
Skyhook's technology powers location-based services for customers including Apple, Samsung, HP, MapQuest and Priceline. The company says 100 million mobile devices use its technology, and the number of location requests handled by Skyhook is approaching a billion a day, Glass said. The firm possesses "the most robust location network in existence," he said.
Skyhook, which employs 30, also reports being profitable, and hasn't needed to raise venture funding since 2007.
"Part of why this is so exciting to me is that I'm coming in and taking a company that's already doing well, and trying to accelerate it," Glass said.
Morgan, meanwhile, will maintain a board seat at Skyhook and remain actively involved with the company, the firm said. "After almost 10 years of building and leading Skyhook, it is the right time for new leadership to take the company to the next level," Morgan said in the company announcement.