Chase Franklin Departs Daptiv

6/4/10

Seattle-based Daptiv, a maker of project management software, has reduced its staff from 105 to 90 people, and CEO Chase Franklin has stepped down, according to a report in TechFlash. Franklin, the co-founder and former CEO of mobile commerce firm Qpass, joined Daptiv last September, but was unable to raise a new financing round for the company’s growth plan. Mark Klebanoff, Daptiv’s chief operating officer, is taking over as president and CEO, and says the company is profitable and expecting to reach $20 million in recurring revenue this year, according to TechFlash. Daptiv, formerly called eProject, was founded in 1997 and has raised more than $20 million since 2007. Its investors include Bay Partners, Kennet Partners, King Street Partners, and Wolf Bay Holdings.

Gregory T. Huang is Xconomy's Deputy Editor, National IT Editor, and the Editor of Xconomy Boston. You can e-mail him at gthuang@xconomy.com or call him at 617-252-7323. Follow @

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