Pennsylvania-based shopping service ShopRunner announced on Tuesday it has brought on Chicago tech heavyweight Sam Yagan as its new CEO. Yagan will take over the reins from Scott Thompson, who has led ShopRunner since 2012.
“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," said Yagan in a statement.
Backed by Alibaba and American Express, ShopRunner is positioning itself as a competitor to Amazon Prime, with members-only deals and free two-day shipping.
Yagan told Crain's that the company will move its headquarters to Chicago, increasing the size of its staff along the way.
The company also has an office in San Mateo, Calif.
A co-founder of companies like OkCupid and SparkNotes, Yagan’s more recent endeavors include stints as CEO of The Match Group and Director of Tinder. Yagan is also a member of the Stanford Graduate School of Business Management Board and the Digital Advisory Council at Target.
In Chicago, Yagan holds director positions at SpotHero and ShiftGig and co-founded Excelerate Labs (which is now Techstars Chicago).
Michael Rubin, who is CEO of ShopRunner parent company Kynetic, said Yagan was hired for his track record of leading consumer-facing businesses.
“Bringing in Sam's expertise in building consumer brands, driving customer acquisition, and leveraging unique data assets will accelerate ShopRunner's existing momentum,” said Rubin in a statement. “Under Sam's leadership, we will have our eyes set on pushing gross merchandise sales on the ShopRunner network well into the billions."
Thompson, who served as president of PayPal and CEO of Yahoo prior to becoming the CEO of ShopRunner, will be leaving the company to pursue an entrepreneurial venture of his own.
"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 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."
Images via Shutterstock and Twitter.