- Millennial-aimed media company TheSkimm has lost two key
executives who were key to its growth plans.
- Matt Boggie just left as chief technology officer after a year
in the role.
- Dheerja Kaur, who was chief product officer for four years,
also recently exited the company.
- Their roles are key to the company’s growth as it focuses on
launching subscription products that it think its audience will pay
for, starting with one called Skimm Money.
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TheSkimm, a media company aimed at millennial women, has lost
two executives who were key to its next phase of growth.
Matt Boggie just left as chief technology officer after a year.
His departure comes after that of Dheerja Kaur, who left recently
after being chief product officer for four years.
Their departures leave TheSkimm with a leadership void as it
looks for its next phase of growth. The company wouldn’t comment on
the exits, saying it doesn’t talk about personnel issues. There was
no word on whether the company would replace those roles and if so,
at what level.
Founded in 2012 by two former NBC coworkers, Carly Zakin and
Danielle Weisberg, TheSkimm soared to popularity with its breezy,
daily newsletter for millennials that snagged celebrity fans like
Oprah Winfrey and Reese Witherspoon. It had raised $28 million as
of 2018, when it took $12 million from Google Ventures and other
investors. Investors told Vox it was looking for a $100 million
valuation at the time. The company employs about 100 people.
But TheSkimm’s newsletter subscriber growth had leveled off at
around 7 million as of November, and the company was seeking
an investor or buyer, people familiar with the talks told
Business Insider in late 2019.
Many ad-supported digital media companies have hit a growth wall
and investors have soured on the model. TheSkimm has branched out
with a podcast, a video series, a book, and e-commerce through
links in the newsletter. In 2016, it launched a $2.99 a month paid
app, Skimm Ahead, that adds relevant events to users’
To find its next avenue for growth, TheSkimm has been styling
itself as a membership company and is trying to launch new
subscription products that its audience will pay for,
starting with one called Skimm Money. TheSkimm was advertising
for a general manager of Skimm Money, reporting to the chief
product officer. The plans were to launch an app, access to
financial coaches, a private community, and events starting in
It’s hard to get people to use new apps and pay for them,
though. And personal finance is becoming more crowded, with outlets
like Mint and NerdWallet offering news and tools, Verizon Media
going after millennials with a new personal finance site it just
started called Cashay, and Meredith Corp. looking to start a
magazine called Emma about women and money.
Source: FS – All – Entertainment – News
2 top executives have just left millennial media company TheSkimm as it looks for its next phase of growth