Keith Teare Denies Rumors of Being Recruited as CEO of CrunchPad Inc. Here we go again?

Successful internet entrepreneur Keith Teare has denied reports published by Silicon Alley Insider that he is being wooed by Michael Arrington to become CEO of CrunchPad Inc.

Gabe Rivera of the technology news aggregator Techmeme, tweeted that he asked Keith in person about the rumor and that he denied being recruited as CEO (Teare has also denied it himself here). But there is no report yet on whether he is being recruited for any other CrunchPad related position.

Arrington told the NYT last week that operations surrounding the CrunchPad are taking two-thirds of his time and he “will remain actively involved for now, but wants to replace himself at CrunchPad and return his full-time focus to the blog.”

This would not be the first time Arrington and Teare worked together. In February of 2006, they co-founded Edgeio, an online classifieds platform which was used by publishers. But that didn’t last long, and in December of that year Edgeio, run by CEO Teare, joined the deadpool. Former Altavista CTO Louis Monier, who is now leading efforts surrounding the CrunchPad, invested $1.5 million in Edgeio.

One of the main problems with Edgeio was its high cost structure. Teare burned through $6 million of cash at Edgeio in less than two years, and by the time it was auctioned off, they had 11 full time employees.

And indeed, criticism some what exists of Arrington’s abilities to sell the CrunchPad at a low price point while keeping costs down. Laura DiDio of ITIC told TechNewsWorld that “if he can sell it at around $300 and make money, more power to him.”

When Edgeio went under, Arrington said “In general I’ll say this – it is unwise for a company to spend a lot of money building out infrastructure before a product proves itself.”

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