{"id":11389,"date":"2024-01-03T10:12:33","date_gmt":"2024-01-03T10:12:33","guid":{"rendered":"https:\/\/dmsretail.com\/RetailNews\/barks-chief-technology-officer-to-exit\/"},"modified":"2024-01-03T10:12:33","modified_gmt":"2024-01-03T10:12:33","slug":"barks-chief-technology-officer-to-exit","status":"publish","type":"post","link":"https:\/\/dmsretail.com\/RetailNews\/barks-chief-technology-officer-to-exit\/","title":{"rendered":"Bark\u2019s chief technology officer to exit"},"content":{"rendered":"<p> <p><a href=\"https:\/\/dmsretail.com\/online-workshops-list\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-496\" src=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png\" alt=\"Retail Online Training\" width=\"729\" height=\"91\" srcset=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png 729w, https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90-300x37.png 300w\" sizes=\"auto, (max-width: 729px) 100vw, 729px\" \/><\/a><\/p><br \/>\n<\/p>\n<div>\n<div class=\"text-to-speech\">\n    <button class=\"text-to-speech__button button\"><br \/>\n            <img decoding=\"async\" class=\"text-to-speech__button__icon\" src=\"https:\/\/www.retaildive.com\/static\/images\/audio_icon.svg?482016190122\" alt=\"\"\/><br \/>\n            Listen to the article<br \/>\n            <span class=\"text-to-speech__button__audio-length\">3 min<\/span><br \/>\n    <\/button><\/p>\n<div class=\"text-to-speech__controls\">\n        <audio controls=\"\" class=\"js-text-to-speech\" preload=\"none\"><source src=\"http:\/\/res.cloudinary.com\/dmgi9movl\/video\/upload\/q_1\/v1704213371\/news\/text_to_speech\/bark-chief-technology-officer-to-exit-nari-sitaraman_lhytqd.wav\" type=\"audio\/mp3\"><\/source><\/audio><\/p>\n<div class=\"text-to-speech__controls__text\">\n            This audio is auto-generated. Please let us know if you have feedback.\n        <\/div>\n<\/p><\/div>\n<\/div>\n<h3>Dive Brief:<\/h3>\n<h3>Dive Insight:<\/h3>\n<p><span><span><span><span><span><span>Sitaraman is exiting his role as chief technology officer after about two and a half years at Bark.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Prior to joining the online pet retailer, Sitaraman was the chief technology officer at Crate and Barrel, helping to grow the company\u2019s digital business to represent over 65% of overall revenues. Sitaraman, who has over 20 years of retail and consulting experience, also held executive roles at The Shade Store and Williams-Sonoma.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cNari has been an important asset in driving the evolution of our technology organization over the past two years,\u201d Matt Meeker, Bark co-founder and CEO, said in a statement. \u201cDuring this time, we have broadened our product portfolio, launched our unified platform at BARK.co, and built a talented technology team in the process.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>As the company ushers in Picard, it is looking to \u201cmigrate to more modern and efficient technology solutions,\u201d Meeker added.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>The executive change comes as the pet retailer \u2014 which is known for its BarkBox and Super Chewer subscription boxes \u2014 faces financial challenges. In its most recent quarter, Bark reported that <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>Q2 revenue fell 14.4%<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> year over year to $123 million. The company\u2019s DTC revenue fell 11.3% year over year to $104.3 million, while wholesale revenue fell 28.7% to $18.7 million. Bark, however, was able to narrow its net loss slightly during the period from $10.6 million to $10.3 million.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>The company in late November also received a notice from the New York Stock Exchange that it had <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span><span><span>fallen out of compliance with the stock exchange\u2019s continued listing requirements<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> because the average closing price of the company\u2019s common stock was below $1.00 for 30 consecutive trading days.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<\/p><\/div>\n<p><p><a href=\"https:\/\/dmsretail.com\/online-workshops-list\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-496\" src=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png\" alt=\"Retail Online Training\" width=\"729\" height=\"91\" srcset=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png 729w, https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90-300x37.png 300w\" sizes=\"auto, (max-width: 729px) 100vw, 729px\" \/><\/a><\/p><br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Listen to the article 3 min This audio is auto-generated. Please let us know if you have feedback. Dive Brief: Dive Insight: Sitaraman is exiting [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11390,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-11389","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/11389","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/comments?post=11389"}],"version-history":[{"count":0,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/11389\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media\/11390"}],"wp:attachment":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media?parent=11389"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/categories?post=11389"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/tags?post=11389"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}