San Mateo, Calif.-based UltraDNS Friday called in new executive management
and laid-off 42 employees in a drive to move the balance sheet into
cash-flow positive territory by November.
On the advice of departing Chief Executive Officer Steven Kalman, the
company brought in Ben Petro, formerly the company’s chief marketing
officer, to fill the top executive role. Petro joined the company last year
from a position as vice president of Marketing at Atlanta-based Edge
Connections. He was previously director of Marketing for Logix
Communications.
The layoffs leave the company with 25 employees, and, contrary to rumors,
the company is not angling to sell itself.
“They’re not in any type of sell mode,” said company spokesperson Felicia
Jacks. “They have $28.8 million in the bank and should be cash-flow positive
in November of this year. There’s no plans for additional layoffs.”
Petro was brought in to streamline the organization and help it capitalize
on the $25 million of Series B funding the company received in January.
“Our mission at UltraDNS is to lead the way in performance and reliability
for directory infrastructure and managed DNS services,” Petro said. “Our
focus remains on building the most robust network of worldwide fail-over
servers for directory services. In addition, a streamlined organization will
enable UltraDNS to better meet the needs of customers in today’s dynamic
Internet and telecommunications market.”