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Executive shakeup at video site Revver

One of the companies chasing YouTube sees two of its three co-founders bolt; firm also announces addition of three new executives.

A management reorganization at video-sharing site Revver has resulted in the departure of two of the company's three founders.

A Revver spokesperson confirmed Wednesday that co-founders Ian Clarke and Oliver Luckett were among an undisclosed number of people who have left the company. The other co-founder, Steven Starr, remains the company's CEO, said the spokesperson, who added that Clarke and Luckett may stay on as consultants.

A few members of the Revver senior executive team have transitioned to consulting roles, the company said in a statement. "Some supporting staff are no longer with the company," the company said.

Launched in October 2005, Revver is one of the companies trying to cut into YouTube's lead in the user-submitted video sector with mixed results. The Los Angeles-based company has yet to break into the top 10 among video-sharing sites with the highest traffic. And like most competitors in the sector, Revver has yet to turn a profit, executives have said.

Online video has wowed millions of viewers, but analysts have plenty of doubts about the business models of many of these start-ups, including YouTube.

Most attempt to support themselves through advertising, but marketing experts have questioned whether advertisers will want their brands associated with video content that is sometimes vulgar or violent, and is often boring.

Neither Starr, Clarke nor Luckett could be reached for comment Wednesday.

Revver also announced the addition of three new executives, including a new chief operating officer.

The new COO is Kevin Wells, a former consultant to an aviation technology company and Disney executive who helped the studio launch an online store in 1996.