After the departure of CEO Gunnar Piening last December, his successor Ralph Werner has also left Swoopo at the beginning of February (after only 8 months).
Frank Han from the US is now leading the company. Since the participation of August Capital in April of last year, there has been no end to the unrest at the company.
Swoopo, with its innovative business model, counts as one of the pioneers of “extreme retailing” and is the catalyst for the global Penny Auction Boom.
Most recently, Swoopo has had to tone down their business model and reimburse users their participation fees after buying a product.
Related posts:
- Swoopo Bids Farewell to Its CEO
- Top 500 Shops: Swoopo Nabs 10 Million in Financing
- Penny Purses: Why Not a Swoopo for Handbags?
Originally posted in German by Jochen Krisch, adapted for excitingcommerce.com by Jason Soo.
