The Daily Startup: Aryaka Shuffles Executive Ranks in Bid for Growth

dailystartup_D_20090806101628.jpgArt by Mike Lucas

Sometimes startups need a big overhaul of the executive ranks to make another  attempt at the business. Aryaka, a cloud networking company, has changed leadership as it prepares to raise more funding and boost growth, reports VentureWire’s Deborah Gage.  The company has a new chairman, Ram Gupta, who took over in May and has since hired or replaced at least five executives.  The overhaul included a new CEO, Shawn Farshchi, who took Saba Software private this year in a $400 million acquisition by Vector Capital. But founder and Chief Technology Officer Ashwath Nagaraj remains with Aryaka. ALSO IN TODAY’S VENTUREWIRE (subscription required): Parcel, which last year began a package delivery service, has discontinued that business and is trying another. HealthiestYou, a telehealth startup, has raised $30 million from Frontier Capital for its Web-based and mobile technology that enables its users to gain access to providers virtually. CCP Games, a privately held virtual-reality games studio, has scored $30 million in funding to back the completion of new titles the startup has under development. The funding was led by New Enterprise Associates and had participation from private equity firm Novator Partners. (VentureWire is a daily newsletter with comprehensive analysis of all the investments, deals and personnel moves involving startups and their venture backers. For a two-week trial, visit, scroll to the bottom and click “try for free.”) ELSEWHERE AROUND THE WEB: Highly Valued Startup Zenefits Runs Into Turbulence. Human-resources startup Zenefits Inc. is falling short of its aggressive revenue targets and has started to curb expenses, making it the latest highly valued venture-backed company struggling to meet investor expectations, reports the WSJ’s Rolfe Winkler. Fossil Group to Buy Misfit for $260 Million. Wearable fitness tracker maker Misfit Inc. is being acquired by Fossil Group Inc. for $260 million, the WSJ’s Yuliya Chernova reports. The acquisition comes amid increased competition in the fitness-tracker sector. Airbnb Meets in Paris, Offers ‘Community Compact’ Pledges. Airbnb Inc. gathered 5,000 home-sharing aficionados on the outskirts of the French capital on Thursday, mobilizing its base of users as part of a broader effort to protect home sharing from a regulatory backlash.   Write to Mike Billings at Follow him on Twitter at @mbillings