Despite losing the lucrative Facebook deal and laying off a number of employees, virtual currency monetization provider Offerpal has a new gameplan, as their current chairman and CEO George Garrick has been named Executive Chairman, making way for an incoming Mihir Shah to take over the top position.
Hired by Garrick in 2009, Shah has served as Offerpal’s chief revenue officer, building on his 17 years of experience in online startups to the table. Shah was in charge of all commercial activities, including revenue growth and user acquisition. Offerpal points to Shah’s activities as key drivers in breaking into new verticals as well as forming strategic partnerships with top publishers.
“I am honored to lead Offerpal during this exciting time,” said Shah. “The social and mobile gaming spaces are in a transitional and converging period right now, and we have some exciting ideas for using our extensive footprint and expertise to help game developers, social platforms and online advertisers navigate the changing environment. I look forward to working with the entire Offerpal and Tapjoy teams as we continue to find innovative ways to meet our customers’ evolving needs.”
Prior to arriving at Offerpal in 2009, Shah served as vice president of ad networks for RockYou, the providers of hit social media apps and widgets. Shah successfully grew RockYou’s revenues over 500 percent and quadrupled the gross margin. Adding to his business acumen, Shah served as vice president and worldwide general manager of lead generation firm QuinStreet.
“Our industry and company are going through some exciting transitions, and the evolving industry has created new opportunities for developers and new emerging gaming environments that we believe the firm is well-positioned to address, especially with our unique web/mobile capabilities,” said Garrick. “As we modify our product strategy and direction accordingly, I can think of nobody better to lead this effort, and it’s important that Mihir have complete operating control over all of the company’s resources. I look forward to continuing to serve the company and working closely with Mihir in the role of executive chairman.”
Keep in mind, this is now Offerpal’s third CEO in less than 1 year, as Anu Shukla, an Offerpal cofounder left the position shortly after the scamville story broke, only to be replaced by George Garrick. The waters of scamville have to have smoothed over, but with so many changes in leadership, it’s hard not to wonder – just what direction IS this ship pointed in? Let’s see what Shah does at the helm.
Tags: offerpal
