Philip Kaplan to step down as Adbrite CEO

Philip Kaplan is primarily known for his previous startup named F—edCompany.com which he started to criticize Internet startups as they flamed out in 2000 and 2001. The site still lists out companies, which are firing staff members in order to survive the growing competition.

He also is a part of another company Adbrite which is an online advertisement company helping web publishers to sell ad space on their websites. It has grown pretty big now and powers 16,000 Web sites, up from 3,500 early last year.

The latest news from Adbrite is that Philip Kaplan is now stepping down as the company’s CEO. Ignacio “Iggy” Fanlo would be taking over from him. Fanlo is a former investment banker who helped build and then sell Shopping.com to eBay Inc. for $634 million last year.

Kaplan would continue to remain chairman and chief product officer of Adbrite, which is yet to become profitable and is primarily relying on investors.