The Jetsetter board asked founder and CEO Drew Patterson to step down, which he did, effective immediately, amidst reports of executive departures and internal turmoil at the company.
The board, chaired by Gilt Groupe founder Kevin Ryan, brought in Rob Deeming as acting general manager.
Deeming had headed Jetsetter's operations in the UK.
A board or board members gave Patterson the news yesterday evening and he stepped aside today.
One insider was spreading the word that the upheaval did not revolve around Jetsetter's operational performance, but hinged on staff morale and working relationships. Whether red ink complicated the issue could not be ascertained.
A CEO search for a replacement is likely to get under way soon.
BetaBeat broke the story earlier today about the upheaval at the travel private sales site.
Before founding Jetsetter in 2009, Patterson was on the founding Kayak team and served five years as its vice president of marketing.