Pipe Technologies, a platform that enables companies to turn recurring revenue into upfront investment, is looking for a seasoned CEO to take over the company in the midst of a management restructuring.
Co-founders and co-CEOs Harry Hurst and Josh Mangel, and co-founder and CTO Zane Ararahia, will all assume new roles at the company.
Hirst will move from current Co-CEO to Vice Chairman and will support the CEO search and transition. Mangel will serve as CEO while the investigation is underway and will become Executive Chairman once the new appointments are made.
Allarakhia will “remain deeply involved” in the company in a senior advisory role and will remain on Pipe’s board of directors. Currently EVP of Engineering at the company, Usman Masood will take over as his CTO.
The company says it is seeking a CEO with “significant operational experience, proven leadership and complementary skill sets” as it enters its next phase of growth and continues to expand.
During the move, Hirst said:
“At this stage of Pipe’s lifecycle, we need an operations leader with the experience to expand Pipe’s ambition and long-term vision.”
In February, Pipe acquired Purely Capital, a media and entertainment finance company. Purely Capital now helps producers, rights holders, and distributors generate revenue up front from long-term licensing agreements. According to Pype, this is now one of his fastest growing verticals on the platform.