Fizz CEO Steps Down, Founder Introduces Ads

Fizz, a social networking app popular among college students, has announced a major leadership change as Rakesh Mathur steps down as CEO, passing the role to the platform’s 22-year-old founder, Teddy Solomon. Mathur will remain involved in the business, but Solomon will be the new head of the platform’s future going forward.

Fizz was created by Solomon and his co-founder Ashton Cofer, and offers an anonymous space for college students to connect. After initially facing scrutiny when high school users misused the platform, Fizz shifted focus fully towards college campuses, resulting in strong growth and momentum thanks to the app’s anonymous nature and ease of use. Under Mathur’s guidance, Fizz successfully raised over $40 million despite a difficult funding climate.

As Fizz introduces advertising, Solomon is focused on a measured approach to ensure ad integration aligns with user experience. He notes a growing interest from companies wanting to reach college students, positioning Fizz as an attractive platform for brands aiming at this demographic – especially given that Fizz is specific to each campus community, allowing for specialised targeting based on specific colleges.

While the platform still receives some negativity due to its anonymous nature – which allows some students to use it as a dumping ground for opinions they would never express in person – Fizz has been massively successful. Earlier this year, the platform introduced personal finance features to support students with managing their money and a marketplace specifically for students, and this change in leadership could lead to even more features and innovations further down the line.