Melbourne-based technology start-up ExitReality confirmed yesterday that it had lost its chief executive just before it formally launched last week.
The company, which purports to allow users to view the entire World Wide Web in 3D through a browser plug-in, had been led by long-time Australian internet executive Dean Jones (the founder and former CEO of local search firm Ansearch) for the last year and three months. However, Jones' LinkedIn profile states he left the role this month.
ExitReality's founder Danny Stefanic, who was the company's CTO under Jones and has now taken the CEO spot, did not respond to a request for comment on the issue. However, ExitReality's external publicist Gillian Yeap confirmed Jones' move in an email.
"Dean Jones has not actually 'departed' ExitReality, he has just stepped back from front-line activities," Yeap wrote, adding Jones was still actively involved with the company through his position on its board of advisors.
"Dean still has a vested interest in ExitReality and is currently engineering another major deal that will be announced to the public shortly," she continued.
Technology start-ups have historically been a fairly risky proposition for investors and need to fight hard to build credibility.
ExitReality should have disclosed Jones' move when it talked up its launch in the mainstream press last week. The fact that it didn't would clearly make any potential investors in the company extremely shaky.