SourceForge CEO Out.. Slashdot.Org and ThinkGeek (LNUX)

By Douglas A. McIntyre Published Jun 10, 4:28PM EDT

SourceForge, Inc. (NASDAQ: LNUX) announced after the close that its President & CEO Ali Jenab has resigned from the company, with an effective date of today. Interestingly enough, Ali Jenab had been at the company for nearly eight years.

The company’s board of directors has appointed Robert Neumeister, Jr. as the company’s interim President and CEO. Neumeister is a not only a current member of the board of directors, he’s the Chairman. The company does note that this is an "interim" basis as it has formed a search committee and will start the process of looking for a new CEO immediately.

SourceForge said it intends to take aggressive steps to accelerate the growth of its core Internet properties: Slashdot, SourceForge.net and ThinkGeek. For those of you who are tech-web addicts you know these, but if you do not then you will be interested to know that these properties are all widely watched and have long-standing readership numbers. In fact, if you look below we are showing you the US-rankings for Alexa and the overall measured ranking from Quantcast:

                        Alexa Quantcast Est. users
Slashdot             1,404    3,562       693,964
SourceForge.net    133       949          2.0 Mil
ThinkGeek             1,181 12,117    186,413

While these numbers might not sound like the rankings of Google, Yahoo!, MSN, or others, these are very large numbers for advertisers looking for targeted audience ads.

This hasn’t been the greatest time for SourceForge as a stock. Shares closed down 2.2% at $1.32 today, another 52-week low. The prior 52-week trading range was $1.35 to $4.45. This also puts the company within basic striking distance of 5-year lows. Shares were even under $1.00 back in early 2003 and late 2002, but they were exponentially higher back in the bubble days.

the company did swing to a net loss last quarter after results. Is market cap is roughly $90 million, while its last quarter showed cash and investments were about $61 million and all liabilities were $11.068 million.

Jon C. Ogg
June 10, 2008

Follow 24/7 Wall St. on Google

About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.