Oversee.net sent out a notice today that Jeff Kupietzky is out as CEO of Oversee.net come the end of August.
Of course I knew this was coming and its really a shame how far a major, maybe the biggest company in the space has fallen so quickly.
Several few years ago I sat in room at the first DomainFest with Jeff and the VC folks, Oakhill, who had just invested $150 million into Oversee.net and had a nice chat about the domain business.
I remember Jeff saying to the suits something like Mike’s company is one of the leaders in the space and an acquisitions we should be looking at with the investment you just made.
Mike is the 1st guy in the space I’m introducing you to.
At the time it was just a few week after the investment into Oversee was made.
The company was riding high, they were the king and flush with cash.
So while many will cheer that the king is dead, its kind of sad to me.
I know where this company was in that space and time.
They had an opportunity a chance that few of us will ever have and the resources to carry it out.
I was in the room.
With the right moves they could have continued to flourish.
Now almost every executive who was with the company is gone.
IMHO the company is just a shadow of its former self.
and instead of celebrating, it makes me sad.
Here the rest of the release that was sent to the usually blogs:
“According to the release the day-to-day operations and strategic vision for Oversee will be led by the company’s Co-Presidents, Debra Domeyer and Scott Morrow.
“They are supported by an operating committee which includes CFO Liz Murray, and General Counsel Todd Greene.”
“On behalf of the Board and all Oversee employees, I thank Jeff for his service to the company,” said Board Chairman and Oversee co-founder Lawrence Ng. “He successfully navigated the company through some difficult challenges and positioned it as an industry leader. We all wish him the best of luck in his new home and as he continues his successful career.” Mr. Ng also expressed his confidence in the company’s leadership: “We feel extremely fortunate to have such a talented team of executives who are well respected throughout the industry. We are extremely confident in their knowledge and capabilities, as well as their passion to lead us to our next chapter of growth.”
I only have a hundred or so very low importance names with them- gave Moniker a run in 2009/2010 to see if I liked it- but as someone who had a couple names with Registerfly and rode hard on that whole dicktrain, watching the ‘downward spiral’ creeps me the hell out.
Might be time to look at other options.
From your statement above and your partnership with one of it’s founders I gather you are privy to a lot of inside information. In your opinion, why would Oversee let these people run the company into the ground?
LOL
Of course the likes of you…and most likely…Schillster, Ham-ster et al are sad..
It means there’s one less potential whale of a buyer for your portfolios, warts & all, so you can cash out, retire in peace.
Oh how the domain world needs more fool buyers (eg: IREIT (LOL)) that went effectively kaput by buying up everything for big bucks during the go-go years…
Now they’ve effectively gone tits up, belly facing the sky…LOL
Every single investment – VC & publicly – in domain holding cos have been a very piss poor investment.
Odds on that Oversee were the chumps who offered $250-$300 million for Schillster’s crap in the go-go years
They surely dodged a bullet when Schillster rejected the offer; probably wanbted a cool $1 Billion
One of you lot will end up the “richest domainer in the graveyard”…sooner than later..
Well said Mike.
The bashers can bash all they want but no other company had the domainer client base, monetization tools and cash in hand in place like Oversee had.
In fact, no other company has given so much back to the domaining industry as Oversee. The bashers probably have 20 names, some personal beef about thier PPC income which only make $4 a day or a grudge about DomainFest but very few can argue the positive role Oversee has played in the growth of the domain industry and this industry would be vastly different (in a bad way) without the money, time and tools Oversee has provided over the last 10 years.
In the last few years the company has consistently tried to cut back instead of forge ahead and its hard to run a company like that, especially in the tech world.
I wish Jeff well, he’s a nice guy.
Aggro
I had an offer from iReit for $20 Million back in the day plus stock
Turned it down flat
Never lost a minute of sleep over it.
My possible sale with Oversee.net started and ended years ago.
For me its not just about the money I can make today or tomorrow.
Sorry for you, its just about who is in it to do something for you
Dean
Monte was not a founder of Oversee, his registrar was bought out by Oversee.net
The insider info I have is from inside conversations from those who where execs at Oversee at the time.
So anyway if your an investor you put your money into a company with a belief in the current management, just like you do when you buy shares in a public company.
Now what rights they had or didn’t have to change management or direction of the company is another question and not one we will know.
There are always three sides to this story, Mike’s, Oversee’s and the Truth. There has to be more to this than what they are letting on. How can someone invest that kind of money into a company and just watch some idiot(s) run it into the ground?
It’s not just about cutting back and forging ahead… they made stupid mistakes that were obvious even to the uninitiated. The writing was on the wall.
Repeatedly ignoring, disgruntled customers grievances and requests when massive amounts of criticism was lobbied they’re way on the various industry blogs. Surely they must read them? But it was like they were purposely being obstinate.
I don’t know much about this Jeff Kupietzky guy, but as a CEO he is an amateur. I hope whoever is taking his place is reading this and is smart enough to realize that public persuasion and keeping your customers happy is critical to success.
Dean
Not sure what you are talking about:
“”There are always three sides to this story, Mike’s, Oversee’s and the Truth.””
There is no “story” that would have sides.
I just recounted the meeting I attended back in the day and missed opportunity of Oversee.net
MHB,
thanks I stand to be corrected (now and then.)
About your statement:
“So anyway if your an investor you put your money into a company with a belief in the current management, just like you do when you buy shares in a public company.”
That kind of Laissez-faire statement, does not make sense. As a parent do you give a kid a pair of sharp scissors and just stand by while he runs around the room with them?
You were recounting an incident, a meeting a “story” for lack of better words. I was not making an accusation just trying to illustrate a point.
Registrars and brokers come and go. Good [domain] names remain good names.
I was at the first DomainFest and I remember meeting Jeff as he was very new at the job. Maybe not even official yet. I discovered him and I had something in commom and I asked him why they would schedule DomainFest during a Jewish Holiday. He said it was poor planning on their part and offered and tried to put me at a friends house so I could celebrate the holiday. It clearly showed the terrific character he had and I always appreciated him for trying to do that.
On a business note…they made some terrible acquisitions which made no sense or demonstrated a lack of due diligence on their part.
It was always a surprise to me because I remember the first DomainFest Jeff asking me my thoughts on the days events and I told him the person representing Oversee during the session discussing selling out to them was AWFUL. He said he knew it and was too new to make any changes but they were coming.
It’s a shame most didn’t go so well.
I wish Jeff only the best and say Hatzlacha Rabbah!
I was not familiar with Moniker prior to say 2008, but from everything I have read it was a very successful company at one point and I caught the tail end of that success. In the short period in which I became familiar with their services there was an enormous decline. That’s what 2- 21/2 years? to go down the shitter!?
In that period, I called their customer service once about 8 months ago to inquire about something. Some guy in a gruff voice answered as if I had disturbed him from his afternoon nap and said “Hello” not “Hi this is Moniker” or anything even remotely announcing it was a place of business. I was certain I had reached the wrong number until, I prodded him further for information, which he reluctantly helped me with. The whole experience was unsettling, and completely unprofessional, from everything I have read it appears that’s how that company was ran from the ground up.
Now, I ask you, how could someone running a company, let this happen, be that lax or have that kind of “I don’t give a shit attitude”? Yes, whatever the outcome of this transition can only be for the better.
The french say a fish stinks from the head – ie if the culture of any organisation is rotten, then, the blame always lies with the leader(s).
I agree with that.
The Oversee.net organisation is a poorly run, seriously unresponsive, borderline corrupt organisation, imo…..
…Their transarancy, response to, and management of, the Snapnames ‘Halvarez’ episode was grossly inadequate. Appalling corporate governance……The decline in Moniker’s performance – on many fronts – in recent times is nothing short of incompetent….Their communication with their customer base has been shockingly inept….Their technology base is poorly maintained….The exodus of talented people is nothing short of a neon sign saying: “This place is a shambles…!”
The whole place screams poor leadership – and a shambolic corporate culture…..I don’t care if Jeff Kupietzky is a ‘nice guy’….He was CEO of Oversee.net – this all happened on his incompetent watch…Its been poor performance, on any measure…..Its been his responsibility to manage all aspects of the business with professionalism, at the very least. He didn’t.
Lets hope this ‘Committee’ structure they now appear to be putting in place will improve things.
Unfortunately, most corporate enterprises run by a committee turn out like sclerotic camels…
They don’t need ‘Co-Presidents’ & sub-committees….They need a top notch executive leader, with strong credentials, decent values, and a determination to drive a performance, customer-focused culture…
Its not hard.
Excuse me..I am so confuse .
Is running a “company” like Oversee that hard? Any kid who runs a lemon aid stand or a girl scout cookie can do a better job than those adults.
@Uzoma— I don’t speak good English and 99% of the people don’t but I own the best domain in the universe called “BullS’
Was there a full moon last night?
“nice” and a high IQ are not ingredients for competence, success, sound decision-making
Uzoma
I removed your comment about Francois and all others that followed well off point of the post
Dan
“”Now, I ask you, how could someone running a company, let this happen, be that lax or have that kind of “I don’t give a shit attitude”? Yes, whatever the outcome of this transition can only be for the better”””
Dan If you review my post I didn’t say Jeff did a great job or even a good one.
I think my comment
“”The company was riding high, they were the king and flush with cash.
So while many will cheer that the king is dead, its kind of sad to me.
I know where this company was in that space and time.
They had an opportunity a chance that few of us will ever have and the resources to carry it out.
I was in the room.
With the right moves they could have continued to flourish.
Now almost every executive who was with the company is gone.
IMHO the company is just a shadow of its former self.”””
Pretty much tells you I’m not staying the guy did well.
Obviously he did not.
I’m just saying it saddens me.
It is easy for us to ‘monday quarterback’.
Michael might have been closer to Oversee than others.
But, it was not really being inside as the CEO or stockholder.
Only a few know what Kupietzky had to deal with.
Yes, Michael is friends and partner with Monte.
So, he will know some dirty laundry and more than most.
But, even Monte might not know everything.
I will agree with Michael.
It is a shame Oversee developed into a shooting star.
I want to point out that Kupietzky had pedigree credentials and skills.
And, if he couldn’t take the company to the next level,
you know the problems had to be insurmountable.
I completely agree with Voltaire, shit flows downhill…
“I don’t care if Jeff Kupietzky is a ‘nice guy’….He was CEO of Oversee.net – this all happened on his incompetent watch…Its been poor performance, on any measure…..Its been his responsibility to manage all aspects of the business with professionalism”
Any failure over Oversee.NET started and continues to be with their name ending with .NET.
There is no “Avis” (.NET or any of the other non-brandable non.coms) in the Internet !!!
Wish Mr. Kupietsky the best in his new pursuits.
What’s the difference between this and Sedo letting go highly paid sales reps, as with this month’s announcement about Ryan Colby? It’s simply the economy and trajectory of the domain business, from my perspective. Domain companies as a business model can’t maintain a staff of highly salery executives who receive a huge chunk of commission, so they’re as a whole consolidating.
Moniker closed the sale of Social.com while Kupietsky at the helm – it speaks well of him!
Therefore, the business models of domain companies with highly salaried execs is the one that is a fail. It survives during times of inflated prices, and dives during regular economic times.
That’s why it’s Sedo also, not just Moniker.
Its unfortunate of the turnover with this news imo. One of the leaders in the space.
Its not about a pissing contest with Owen and them. Or traffic conference against them. While I do agree with some of there tactics were wrong its bad management in those calls. Rick was right and Howard when they brought there reps in and didn’t pay.
One of the leaders in domain space. Screw the drama and this impacts all of us one way or the other down the road imo.
What is sad is moniker and Monte. Monte first class act and moniker. He built company and now look where its at.
@mhb bet you don’t regret selling out. Bet you had many other offers on table. Great portfolio you own!
They bought Moniker at the peak. They bought snapnames at the peak.
They bought legal issues. Wether that can be blamed on the Jeff or not, those 3 things alone dried up a lot of that capital.
“no other company has given so much back to the domaining industry as Oversee. The bashers probably have 20 names, some personal beef about thier PPC income which only make $4 a day or a grudge about DomainFest but very few can argue the positive role Oversee has played in the growth of the domain industry and this industry would be vastly different (in a bad way) without the money, time and tools Oversee has provided over the last 10 years.”
What did Oversse do to help domainers ? They formed a company to profit, they made decisions based on profitability. If this revenue stream and profit spilled downhill and helped domainers along the way that’s all fine and good but to pretend that they were some sort of savior of this business is a bit of a stretch. Some would argue that they weren’t a positive role in the growth but a rather negative . . . Halvarez, trademark issues, chefpatrick-gate, Monte’s suit and there’s likely more to come.
Anyone ever wonder what happened to the co-founder of Oversee ?
Just as I thought! Jeremiah Johnston is stepping down as Sedo COO. It’s not Oversee per se, it’s the climate:
Sedo’s Jeremiah Johnston Steps Down, Will Open Private Practice
http://domainnamewire.com/2011/08/09/sedos-jeremiah-johnston-steps-down-will-open-private-practice
Thank you, Andrew Alleman, via DomainNameWire, via Domaining.com via Francois!
Atleast Mr NG expressed his feelings about executives, No hard feelings at the end 🙂
Jeff Kupietsky’s last day “officially” is apparently today at Oversee
Good luck to JK & company