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Tech company CEO steps down amid shift in new direction

Nov 10, 2016

Leadnomics is seeking to sublease its 8,000 square-feet office located at 3020 Market… more Courtesy of Leadnomics A Philadelphia-based lead-generation and digital marketing company is facing another major change. Leadnomics' Co-Founder Zach Robbins announced he is stepping down as CEO this week while the company continues to pivot away from its legacy model. Robbins will remain with the company in an advisory role. The shift in leadership comes nearly two months after the company decided to downsize office space , moving from 8,000 square feet in occupied for two years at 3020 Market Street to a shared office space at the Cira Center after reevaluating the business' use of capital. Leadnomics is seeking to sublease its 8,000 square-feet office located at 3020 Market… more Courtesy of Leadnomics While the move meant four of the company's 30 staff members, mostly those in supportive roles like accounting and human resources, were laid off, the nearly 10-year-old company said Wednesday it still has high hopes for its future. Co-founder Stephen Gill , who also co-founded advertising tech company Red Spark, will continue his role with the company along with Anthony Romano , who has been promoted from vice president of technology to chief operating officer. Kevin Van Lenten is moving from AdNative to become Leadnomics chief revenue officer. "Together with the rest of the Leadnomics team, they are looking forward to a year of new product launches and successful growth," a company statement read. Leadnomics' new executive team wasn't immediately available for comment Wednesday due to travel schedules, but the tech-driven company, which sells leads primarily to financial services and insurance firms, provided a statement from Robbins saying he has faith in the new executives taking the helm. “I can take this step away confidently, only because I know I’m leaving Leadnomics in the care of the most capable hands,” said Robbins. A company spokesperson said Robbins' decision to step down wasn't directly related to the shift in office space, which was made to better use resources as Leadnomics realigns priorities and prepares to launch new products. The company, funded by revenue on a bootstrapping model, has faced a challenge in the shifting consumer expectations when it comes to connecting to professional services, Robbins told the Philadelphia Business Journal in September. Instead of wanting to be contacted by companies, more often they want to do their own research and reach out on their own terms. “People would rather engage with the advertisers or the service provider rather than the other way around,” Robbins said at the time. “What we’re trying to do is build something that’s much more research driven and much more educational for the user.” The new sales products are designed to be heavier on content, and geared toward the home improvement and refinance industries. Robbins said the company plans to expand horizontally across industries in the long term and vertically within those sectors when it makes sense to move further down the supply chain. Leadnomics moved into its own University City space about two years ago with plans to grow rapidly after the company was named the 26th fastest growing company in the U.S. on Inc.'s 5000 list in 2012 with revenues of $11.3 million in 2011. It rose to that spot from number 48 on the 2011 list. It moved back to the Cira Center, where it started, to share office space with Red Spark, Gill's other company. Red Spark is independently owned and operated and not impacted by the leadership change. Michelle Caffrey covers technology and education for the Philadelphia Business Journal. Industries

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