Edgy controls the business of Panzura

Panzura, one of the leader in cloud file storage, got acquired in May 2020 by Profile Capital Management LLC. In the press release announcing this acquisition, Rich Weber was quoted.

But the chief product officer for more than 10 years at Panzura disappeared from the current firm’s leadership page.

There are several other chief [executive | revenue | innovation | technology | strategy | financial] officers on that page but not longer Weber, even if his LinkedIn page continues to mention his position at the firm.

We also noticed 4 new arrivals:

• Dan Waldschmidt as chief revenue officer,
• Petra Davidson as VP of marketing, both coming from Edgy,
• Edward Peters, chief innovation officer, arrived in June
• and Will Pike, chief strategy officer, landed in September.

With the CEO, Jill Stelfox, also coming from Edgy, none of them has worked in the storage industry in the past.

The interesting piece is that all Edgy people listed above, Stelfox, Waldschmidt and Davidson plus other Edgy people Jessica Sharpe or Julia Cu, continue to mention Edgy as a current job on their LinkedIn profile and on Edgy web site inviting us to think that Profile Capital Management signed a contract with Edgy.

We understand that Profile Capital Management owns the company and Edgy is doing all business related operations. In other words, “boost my [new] business during these X coming months and we’ll prepare an exit…”.

It just confirms that this acquisition has shaken the strategy and the team illustrating some new shift, potential strategy and go-to-market directions.