IREIT Changes Management
Domain name firm shuffles management ranks.
Domain name buyout and development firm iREIT (Internet REIT) has made changes at the top.
Craig Snyder, whom the firm hired from Marchex last year, was promoted to CEO regarding a month ago, as stated by the firm’s web site. Prior to that he was President & COO. Former CEO and co-founder Bob Martin moved into another position, but recently left the firm.
Adam Dicker, former Executive VP with iREIT, is no longer listed on the firm’s management page. Dicker also runs DNForum, a popular domain name forum. When Dicker joined iREIT he made changes to DNForum to allow members to submit domain portfolios for sale to iREIT. That functionality is no longer available.
Also absent from iREIT’s management page on its web site is Sid Parfait, who was previously listed as Executive VP. Parfait sold his portfolio to iREIT in 2005. He was also the developer of DropWatch.com.
It is unclear why these changes were made at this time. Some industry insiders suggest that iREIT is readying itself for sale.
iREIT Co-founder Marc Ostrofsky, famous for selling the Business.com domain name, is still with the firm as a member of the Board of Directors. Ostrofsky left his day-to-day operations with the firm last year.
iREIT’s competitors include other sizable domain portfolio holders such as NameMedia. The firm spent the two years since its founding acquiring domain portfolios, and is now shifting to better monetization of its domains.
The firm has raised over $100M in capital.
