InfoSpace Gets A New CEO With More Modest Predictions
from the credibility-gap dept
We’ve talked in the past about some of outgoing InfoSpace CEO Naveen Jain’s more outlandish statements, and the most fun was (of course): “There are two kinds of people in this world… those who don’t believe in God, and those who believe in God and InfoSpace. That’s OK — the nonbelievers will be converted when we become a trillion-dollar company.” Now that the nonbelievers have won this round, and InfoSpace trades at several magnitudes of order less than a trillion dollars, Naveen Jain has been ousted in favor of another executive froma failed, overhyped, telecom play. Jain’s repalcement is the former president of XO, which did a wonderful job collapsing into bankruptcy of its own on top of lots of internet-related hype. Jain says he opposed the move, and thinks there are better candidates out there. He’s probably right, but since that whole “trillion dollar” prediction, I’d say he’s got a bit of a credibility gap to overcome before his investors take him too seriously.