Video sharing website Motionbox announced it has picked up $6 million in a third round of funding and promoted Josh Grotstein from Chief Operating Officer to Chief Executive Officer. He will take over CEO duties from company founder Chris O'Brien, who will now serve as Executive Vice President of Strategy and Corporate Development and Chairman of the Board.
Grotstein had served as Motionbox Chief Operating Officer since mid-2008. He is a founding partner of VC firm SAS Investors, who was one of the company's initial investors and has served on several boards, including Textronics, Enpirion and Lemur Networks.
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