New Media Strategies CEO Pete Snyder to Step DownWill Launch VC Firm, Return to Political Fray Ad Age by Cotton Delo
Five years after selling New Media Strategies to Meredith Corp. and 12 years after founding it, CEO Pete Snyder is stepping down at the end of the year to launch a venture-capital firm and return to the political world.
While social-media marketing firms are now abundant, New Media Strategies staked out its position years before there was a Facebook or a Twitter -- or even a MySpace. A former media consultant and pollster who had been working for Rudy Giuliani and corporate clients in the late '90s, Mr. Snyder said that he had his eureka moment when Wired magazine hired him to conduct a study of the "Wired Nation," and he started thinking about the volume of conversations that were already happening online on message boards and chatrooms. Mr. Snyder is handing over his duties at New Media Strategies to VP-Sales Jack Macleod, who will be the interim GM. As for his own next move, he's launching Disruptor Capital, which he says will focus on startups in the northern Virginia area, and he's especially interested in an emerging crop of public affairs and marketing firms in the region that currently have no angel investor or seed-funding channels open to them.
He's also agreed to be chairman of VA Victory 2012, a coordinated effort by Virginia Republicans to help elect GOP candidates to Congress and the White House. Mr. Snyder observed that the chairman role can often be a ceremonial one, but he intends to be hands-on. Mr. Snyder credited Meredith Corp. with letting New Media Strategies operate autonomously after the sale and noted that he had chosen to remain two years beyond his three-year earn-out. "It's been five years since I sold the company," he said. "I ran out of excuses for why I shouldn't start the next chapter." Read the Entire Story...