The former CEO and co-founder of Silicon Valley-based logistics software startup Turvo was fired in May after the company learned he had expensed over $75,000 while entertaining clients at adult venues over a three-year span, Bloomberg reported on Friday. The news only recently came to light.
Eric Gilmore’s extracurricular frolics — which he did not dispute — were unearthed when Turvo’s CFO reviewed company expenses.
In filing a lawsuit against Turvo in August, Gilmore maintained that the company’s board failed to follow proper procedure when he was sacked. The suit was settled in September, Bloomberg reported.
Calls by FreightWaves to Turvo were unanswered.
Barely 5 years old, Turvo is a high-tech provider of a collaborative logistics platform. The Turvo platform connects elements of the supply chain, allowing shippers, logistics providers and carriers to work together in real-time through cloud-based software and mobile applications.
Turvo is bankrolled by venture capital. Investors include Activant Capital, Felicis Ventures, Mubadala Capital, G2VP, Future Shape and Next47.
Scott Lang became Turvo’s chairman and CEO in November. Lang previously served as executive chairman and CEO of San Jose, California-based Silver Spring Networks, which provides smart grid products. Silver Spring is a subsidiary of U.S. technology company Itron, which supplies products and services for energy and water resource management, according to the company’s website.
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Dave
The programers must have been in the strip clubs with this CEO guy every night or they were hung over every day after getting home at 5am because the software doesn’t work properly at all.
You know your product sucks if you have to take people to strip clubs to convince them or bribe them to buy it.
Turvo sucks. They say it’s a “platform” but it doesn’t work and nobody wants it. A few shippers tried to force us carriers to use it but it’s horrible and so nobody does or will anymore.
I think these fraudulent CEOs just raise all of this money so they can spend it on private planes, fancy vacations and strip clubs while the guys doing all the work get absolutely nothing except screwed at the end when they fail or get locked up in jail.
Bobby Yolo
You missed the follow up questions.
Who are Turvo’s customers that joined him at the adult entertainment venues? Who else from Turvo joined Mr. Gilmore at the adult entertainment venues? How often is this happening across the industry at large?