Last night TechCrunch held its annual “Crunchies” award ceremony to recognize startup greatness.
Along with so much of the unicorns-in-the-light-of-day motif of 2016, several of the nominations seem strange. Like, say, Zenefits for “fasting rising startup” (It didn’t win) and Uber for “best overall startup” (it did.)
Zenefits CEO and co-founder Parker Conrad probably didn’t spend much time mulling his Crunchies loss. Earlier that same day he was forced to resign, not only from the company but also from its board of directors.
Conrad’s resignation followed revelations that Zenefits acted as insurance brokers in at least seven states despite lacking the licenses to do so. Buzzfeed has been following the scandal closely, and we covered it here on Pando.
Often, disgraced executives are given a chance to resign with their dignity and a disingenuous “he got us to a great place!” Not so Conrad who is being replaced by David Sacks, the former founder of Yammer who recently joined Zenefits as COO.
Sacks announced the move like this...