Is it true? We received word today that LA based Spotrunner is facing financial troubles and as a result has had to “rescind job offers to a number of people from entry level to (senior management).” Also, it is rumored that newly hired Joanne Bradford, who took over as EVP of national marketing services, hasn’t been around the office much lately.
We find this information highly suspect, and since our source provided no credible information to back his/her remarks, we made calls to a number of Spotrunner folks. Finally agency spokesperson Rosabel Tao gave us the low down.
And before we tell you what she said, we want you to know that we know what you’re thinking — that Ms. Tao’s responses are canned. However, with only so much information to go on and limited sources on the agency, we can only report what we’re told.
Tao defended her company’s financial situation, noting the $51 million Spot Runner recently nabbed from a number of interested investors. Oh, did we mention there was already $60 million in the coffers?
More after the jump.
That in mind, Tao reminded us of the three big hires that took place last spring, including CFO Fam Paisley and Bradford, in March and April respectively.
On the subject of the hiring-holding-pattern, AgencySpy has learned that the company is undergoing a reorganization of sorts; the company will be split into three divisions, each led by one person. Mark Rosenthal takes the reigns of media platforms, Bradford will oversee national marketing services and Kurt Weinsheimer will manage local marketing services.
Oh, and as for Bradford’s apparent absence from the office, don’t forget that she lives in the Bay Area (SR is located in LA) and is also responsible for growing the company nationally; that means she travels a lot. But hey, we’ve been bamboozled by the “reorganization” speech before. That’s why it’s up to you all to help us sort this one out.