The founder of digital research company PureProfile has quit as the company’s stock hits its lowest point since listing.
Paul Chan resigned today as managing director and chief innovation officer. The company told investors it was because he had achieved his goal to “empower consumers” by “giving them control of their profile as an asset”.
PureProfile collects consumer data by offering “paid surveys, quick questions, insights and content that’s relevant to you”.
Mr Chan founded the business in 2000.
“With this vision now substantially achieved and having positioned the company to advance commercialisation of its products, Mr Chan will pursue new opportunities,” the company said.
Chief Nic Jones, who joined in November, will become the new managing director.
Pureprofile (ASX:PPL) is currently trading at its lowest level since its listed in 2015, at 16c. Its shares have been trending downwards since mid-2016.
The company has a market cap of $19.2 million.
The last financial results for the company were the full year numbers in 2017. These showed a $3.1 million loss but revenue not quite doubling to $53 million.
In March last year the company took on a new chairman, whom Mr Chan reported to.
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“I have known Paul from the time he founded Pureprofile and for him to take the Company from a start-up to listing on the ASX is an immense achievement. He should be proud of what he has accomplished on his Pureprofile journey and we wish him every success in his new ventures,” chairman Andrew Edwards said.
“Nic is putting in place key infrastructure and support pieces, which will set the business up for long-term growth and expansion.”
Pureprofile is also appointing a CFO and a managing director to the UK office.