Cody Barbo, the founder and CEO of fast-growing tech startup Industry Careers Inc., has been fired from the company he founded three years ago.
That’s according to a blog post Barbo, 27, posted on LinkedIn on Thursday afternoon.
Barbo said his separation agreement with the company prevented him from sharing any details about why he was terminated. However, Barbo hinted that it had to do with the performance of the company under his leadership.
“I knew going into this journey that as founder and CEO I would always take the full responsibility of the company, whether things were good or bad,” Barbo wrote. “Which is why I accept the board’s decision to terminate my employment at Industry.”
The startup just received its first big round of funding last October, when Silicon Valley investors led a $2.3 million round. Founded in 2014, the company grew quickly to employ over 20 people, taking up the whole bottom floor of the DowntownWorks coworking space.
The news of Barbo’s departure may surprise some in San Diego’s startup scene, as the young founder has a solid reputation among community leaders. In fact, Modern Luxury magazine named him one of their “Men of the Moment,” highlighting the fact that – despite his young age – he’s led the company through big milestones. It’s possible, however, that the company’s fast growth required more experienced leadership.
“Always be prepared to replace yourself with someone better than you, and be proud to do it,” Barbo wrote. “I wish that I would have foreseen this sooner.”
Industry developed a professional network and hiring website for the service and hospitality industry (think LinkedIn for bartenders and chefs). The company has already landed a slew of high-profile customers with its sleek and modern hiring tool, including the hit TV show “Hell’s Kitchen” which uses the site to cast celebrity chefs. MGM Resorts International and Disneyland also use the site for hiring.
Barbo said part of him wants to dive back in and start a new company, but with an upcoming wedding on the horizon, “a steady job might actually be the smartest thing to do.”
Barbo said he’s back on the market and looking for new opportunities.
