Can Iozzia Get the CRE Loaded Love Back?
24 Oct 2008
Last week CRE Loaded e-commerce founder Salvatore Iozzia was reinstated as Chief Visionary Officer, CEO Michael Valverde left the company, and former CFO Greg McGraw was appointed Interim CEO.
After winning $5 million in venture capital only a few months ago, the company had removed its founder and president Sal Iozzia. Almost immediately the company began to act like a dictatorship, nearly destroying itself along with its community and goodwill. Without warning, the company began charging a recurring annual fee for even its most basic entry-level software program, CRE Loaded Standard Edition. When community members complained on its forum, the complaint was removed or the complainer banned.
The newly-capitalized company also dropped the community beta testers who are the opinion leaders of the community. Affiliates and resellers were likewise ousted. A no-refunds policy was instituted. And those customers who had paid hundreds of dollars for the last few copies of the old 6.2 version were told tough luck, pay twice, you get no discount to upgrade to the new version.