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Founder-driven Soothe has matured under PE ownership having nailed robust unit economics, sustainable growth and a highly liquid, 2-sided marketplace. Now it needs an experienced CEO who can scale the product, operations, brand and team to achieve sustained growth, profitability and ultimately maximize shareholder value in a liquidity event.
Soothe has secured market dominance in a rapid-growth market. But while it’s the clear category leader, it’s not yet a proven winner. PE owner Riverside Company recently completed a $23 million growth funding with a plan to bring in a seasoned CEO with the experience and passion to take Soothe all the way.
- ASSESS: Swiftly analyze the historical and current metrics of the business. Talk to as many users, therapists, competitors, influencers and employees as possible to inform a similar assessment of Soothe’s offering and platform in the market. Then get down into the trenches with the CTO, CFO and CMO to determine where the team needs to be shored up to deliver the performance it will take to win.
- PLAN: Set a plan and a vision for Soothe’s path to both profitability as well as liquidity. Envision and build the playbook that will enable ramping the supply and demand sides of Soothe’s marketplace in the territories and across the channels required to scale.
- MANAGE: Get buy-in from the board and then work with the leadership team to execute the playbook in a data-centric, real-time tested and checked operational flow, thereby managing the expectations of all parties, including the board, team, customers, therapists and market.
- EVANGELIZE: Amplify the brand, rally the team and energize the market and the ecosystem with Soothe’s narrative, ethos and mythology.
- OPTIMIZE: Constantly test, iterate and turn the dials to keep the mixture just rich enough to keep the momentum at its peak and performance just ahead of the stretch goals!
- LEAD! Above all, what the team, the board and the market are all looking for will absolutely require leadership and ownership.
- Sitting or previously been a CEO. At this stage of the campaign, we are considering time in the seat as the table-stakes for the role.
- Credible B2C executive with relevant technology/digital experience and success. Enterprise is great and media nice, but Soothe needs a proven player in consumer products/services —ideally in an on-demand or two-sided marketplace and a digitally native blockbuster brand.
- A documented reputation as a World-class Operator with the analytical, financial and organizational chops, the disciplined methodology and approach it takes to run a complex multi-sided marketplace model globally.
- Strategic. More than just operational, technical or multi-functional, the selected candidate will have tackled and solved complex problems, driven critical high-stakes decisions. The CEO must truly understand and be able to prioritize in real-time, the big things that matter in any discussion or decision.
- Led growth, scale and success! Soothe is a mid eight-figure top line business looking to scale well into nine-figures and beyond. The selected CEO must therefore have been where Soothe is going rather than where it’s been.
- Leadership. Soothe needs more than someone with operational savvy; it needs a person who can lead with the vision of knowing where the company needs to go and determine how best to get there. A great leader is a great recruiter and team builder and will bring a track record of building high performance teams.
- Data-driven and tech savvy! CAC, churn, LTV, acquisition, conversion, retention and the like are the vocabulary of all stakeholders at Soothe and mastery of the quant-driven business of digital is required.