PHILADELPHIA & SAN MATEO, Calif., July 12, 2016 /PRNewswire/ -- ShopRunner, the premium members-only online shopping service, today announced the appointment of Sam Yagan as its CEO. The leadership transition signals ShopRunner's focus on accelerating the growth of its member base of over three million customers and bringing even more value to its 150 merchant partners. Sam has co-founded several popular consumer internet businesses, including SparkNotes and OkCupid. After Match Group acquired OkCupid in 2011, Sam was named CEO of Match Group in 2012 and led the company through its IPO in Q4 of 2015.
"Scott Thompson's decision to leave ShopRunner for his own entrepreneurial venture brings to an end his four-year tenure, during which time ShopRunner evolved from a nascent concept to a successful business, achieving tremendous growth on both the merchant and consumer sides of the network. Bringing in Sam's expertise in building consumer brands, driving customer acquisition, and leveraging unique data assets will accelerate ShopRunner's existing momentum. Under Sam's leadership, we will have our eyes set on pushing gross merchandise sales on the ShopRunner network well into the billions," said Michael Rubin, CEO of Kynetic, Inc., ShopRunner's parent company.
"I have tremendous passion for building consumer brands that offer valuable services to their members; there's no doubt that consumers love our current offering of free two-day shipping at their favorite e-commerce retailers. ShopRunner's unique two-sided network is well-positioned to offer unparalleled value to both our merchant partners and our members. Scott and the entire ShopRunner team have worked magic in building the base of this business, and I'm excited to lead its next phase of growth," added Sam.
"I am proud of ShopRunner's growth during the last four years and I am excited to see Sam and the team continue to attack the huge market opportunity," said Mr. Thompson. "Sam shares my belief in the value ShopRunner brings to our retail partners and members; I know he will do a great job leading the company to new heights."
In addition to his previous entrepreneurial endeavors, Sam serves as Vice-Chairman of Match Group, Inc. and as a member of the Management Board of the Stanford Graduate School of Business. He has an AB in Applied Mathematics from Harvard College and an MBA from Stanford GSB, where he earned distinction as his class's Henry Ford II Scholar. He has also been named to Fortune's "40 Under 40," Fast Company's "Most Creative People in Business," and TIME Magazine's list of the "100 Most Influential People in the World."
ShopRunner's unique membership experience makes it easy for members to get everything from designer jeans to digital cameras. Members enjoy benefits like free 2-day shipping, free return shipping, easy 2-click checkout, and members-only deals and much more. ShopRunner connects top retailers and brands to the best online shoppers. ShopRunner's exclusive member benefits and highly targeted, data-driven marketing help retail partners acquire high value customers while increasing existing customers' purchase frequency and spend. The company is backed by Kynetic, Alibaba, and American Express.
Contact firstname.lastname@example.org for more information.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/shoprunner-names-sam-yagan-as-chief-executive-officer-300297398.html