KnowEm.com partner and original co-founder Michael Streko has accepted a buyout offer to sell his active voting shares in the ownership of the company for an undisclosed sum. Per the terms of the agreement, Streko will still remain a minority shareholder with an interest in KnowEm and serve on the Advisory Board.
“As of today I am stepping down from my role at KnowEm as an active partner,” stated Streko in a farewell notice on his blog. “This has been an friendly agreement I made with the partners to pursue other options for me both professionally, and personally.”
KnowEm was founded in April, 2009 by Michael Streko and Barry Wise as a Social Media Branding professional services company as an extension of their free social media username check website. This past April KnowEm celebrated its 5th year in operation, a startup boot-strapped by the co-founders and profitable since the first day it launched.
“When we first launched it was nuts, and people thought we were nuts,” Streko stated. “But it was working and we had launched something that was gaining traction quickly. Watching this company grow and being a part of it was awesome and I would never give back a second of it.”
Some of Streko’s outstanding shares have been purchased by co-founder Barry Wise, also for an undisclosed sum. Wise will step into a leadership role at the company while Streko still retains the option to potentially both sell and promote KnowEm’s current and future service offerings. The arrangement does not disrupt or alter the ownership positions of any other shareholder, nor does it alter the Advisory Board save for the addition of Streko.
“To all the clients and friends I have made over the past 5+ years with KnowEm you have all been great and I hope to reconnect and work with you again one day. You’re still in great hands with Barry and the team. As always they have some cool stuff in the works that will continue to innovate the space.”