Bark Announces a Change at the Top: Nari Sitaraman Steps Down, Eric Picard Takes Over
Technology chief of Bark to depart.
Listen up, folks! Here's the lowdown on Bark, that pet-loving online retailer you adore for its BarkBox and Super Chewer subscription boxes.
In an unexpected announcement, Bark's Chief Technology Officer, Nari Sitaraman, is calling it quits, effective from January 19th. According to a company press release, the tech whiz behind numerous digital innovations is moving on to another venture.
Stepping into Nari's shoes is Eric Picard, the vice president of product management at Bark. Known for his experience with Pandora and Microsoft, Eric is prepared to take the reins, as stated in the release.
Nari, who joined Bark in 2021, was instrumental in fostering the company's tech and data-driven culture, aiming to personalize the digital experience for customers. Prior to his tenure at Bark, he was the CTO at Crate and Barrel, helming the digital expansion that propelled the company to represent over 65% of its total revenues. With over 20 years of retail and consulting experience, Nari also held executive roles at The Shade Store and Williams-Sonoma.
Matt Meeker, co-founder and CEO of Bark, praised Nari's contributions, stating, "Nari has been crucial in driving the evolution of our technology organization over the past two years. During this time, we have expanded our product portfolio, launched our unified platform at BARK.co, and built a formidable technology team."
As Bark prepares for a new Chapter with Eric at the helm, they're aiming to migrate to more modern and efficient technology solutions.
The company, however, is sailing through some turbulent waters. The recent Q2 report reveals a 14.4% year-over-year drop in revenue, with a staggering 28.7% decline in wholesale revenue. There was a small silver lining, though, as the net loss was narrowed during the period.
In a worrying turn of events, Bark also received a big ol' warning from the New York Stock Exchange. The reason? The company's average closing stock price dropping below $1 for a whopping 30 consecutive trading days.
So there you have it! The future might be uncertain, but we're rooting for Bark and their new CTO, Eric Picard! Keep an eye on this dynamic duo, and we'll keep you posted on all the exciting developments.
[1] Collaboration with Arctic Grey – https://www.arcticgrey.co/our-work/bark[2] Successor announcement – https://www.globenewswire.com/news-release/2023/01/05/2612394/0/en/Eric-Picard-Taking-Over-as-BARK-s-Chief-Technology-Officer.html
- As Bark's new CTO, Eric Picard plans to work closely with Arctic Grey to enhance the technology solutions for Bark's business, as seen in the collaboration between the two companies.
- Nari Sitaraman, in his departure, has left a noticeable mark on Bark's tech and data-driven culture, laying a solid foundation for Eric Picard to foster further innovation.
- In the midst of increased competition in the pet industry, which is heavily influenced by advances in technology, Bark aims to bolster its finance and business strategies to stay afloat.
- The rise of technology in pet retail and finance has allowed businesses like Bark to reach new heights, despite recent financial setbacks, such as the decline in Q2 revenue.
- Nari Sitaraman leaves Bark with a rich legacy, not only in terms of technological advancements, but also in driving the company's business growth, as evidenced by his impact at Crate and Barrel.
- In an effort to stay competitive, Bark is eyeing noticeable improvements in its technology, a move that could lead to a more efficient business model and a stronger financial future.