18 Jan 2016 Tom Bennett Out of Pond5
It appears that Pond5 is experiencing a leadership change with Co-founder and CEO, Tom Bennett, no longer in direct control of the company.
Although not yet officially announced, it appears much of the industry is already aware of Tom’s departure. On LinkedIn, Pond5 CPO David Paltiel and CMO Ryan Scott –both of whom joined the company in 2015– have already updated their profiles adding “co-CEO” to their current position. Tom’s profile now shows Executive Chairman in place of CEO.
The company received a massive $61M investment in July 2014, and yet there were no announced developments in 2015. Add to that the growing number of innovative and speedy new players in the stock footage space –like Dissolve and Videoblocks– and the speculation that investors wanted more action for their massive investment starts to sound very plausible.
Tom and his two co-founders, Dana Tower and Marcus Engene, who both remain with the company, launched Pond5 in 2006, growing it organically until taking a tiny investment of $500k in 2008. It remained at the top of the market despite the presence of giants Getty Images and Shutterstock, and despite allowing contributors to set their own prices and take home a generous 50% royalty.