NEW YORK—Wireless content vendor Zingy lost its second chief executive officer in six months as Andy Volanakis stepped down over differences with Japanese parent company For-Side.com.
A former general manager of one of Sprint PCS’ content businesses, Volanakis joined the content aggregator in 2003 as senior vice president of business development. He was named CEO in December following the abrupt departure of Fabrice Grinda, who co-founded the company five years ago before selling out to For-Side in 2004.
“We’re sorry to see Andy go,” Zingy said in a prepared statement. “In his three years with Zingy, Andy’s contributions have been immeasurable, but he is leaving the company in a position of strength.”
Volanakis had worked aggressively to expand Zingy’s business, overseeing the beta test of a new direct-to-consumer Internet storefront and partnering with talent agency ICM to expand Zingy’s original video and audio content to television. But it appears Volanakis—like Grinda—faced opposition from the parent company, which is focused on limiting expenses.
For-Side expressed plans last spring to consolidate its U.S. businesses, which also include mobile publisher Vindigo and content provider Proteus, into a single entity in an effort to take them public. The likelihood of such a move has decreased dramatically in the last year, though, as content aggregators are increasingly being excluded from direct deals between carriers and content providers.
The parent company may be working to cut cost as it tries to find a buyer for its U.S. operations. A Zingy spokesman said the company remains in good financial health despite Volankis’ departure, however, and will move ahead to expand its Web storefront for mobile content.
“Zingy experienced great growth last year,” the company continued, “and we’re moving forward with some exciting initiatives, including our new direct-to-consumer offering.”
