Scott Thompson, who lost his job as chief executive of Yahoo earlier this year when it turned out he didn’t earn the computer science degree on his resume, has surfaced as the leader of a new startup.
The San Jose Mercury News interviewed Thompson about his new role as the CEO of e-commerce startup ShopRunner. The company offers Amazon-like shipping services and Thompson described it as “Amazon Prime for everybody else.” Amazon Prime offers free two-day shipping for users who pay a $79 a year membership fee.
Conshohocken, Pa.-based ShopRunner is two years old and it has 60 employees. Thompson told the Merc, he was fascinated at the challenge of growing the company into something big. eBay, owner of PalPal, which Thompson used to run, owns a stake in ShopRunner. An eBay executive sits on ShopRunner’s board.
Thompson said, “It’s safe to say that I’ve known the companies and the individuals involved for a long time. The concept that became ShopRunner I saw early on, three-plus years ago.”
Thompson didn’t receive severance from Yahoo, but he did get $7 million in “walking-away money,” according to the Merc. So he could have just retired. Thompson and a quarter of the employees work out of an office in San Mateo, Calif.
In three years at PayPal, Thompson helped double revenues to more than $4 billion.
“His set of experiences is second to none,” Eric Remer, CEO of a Denver startup called PaySimple that named Thompson to its board last month, told the Merc. “The opportunity to bring on a talent like Scott is an absolute no-brainer.”
Thompson wouldn’t discuss Yahoo, which negotiated a non-disparagement clause with him.
Copyright 2012, VentureBeat