After nurturing $4.5 current worth company, CEO David Karp has decided to leave the company for the reasons not known yet. Tumblr as a blogging service was founded back in 2007 and has earned a remarkable status since then. Karp’s announcement to leave the company has come at a point in time when the blogging service is doing really good.
Karp announced his leave through his personal blog on Monday. After his departure, Jeff D’Onofrio, Tumblr’s president, and COO will take over his duties till a new replacement is appointed as per MobileAppDialy’s trusted sources. Over the past few years, the microblogging website has been through a massive organizational change. Tumblr was first purchased by Yahoo for a whopping $1 billion in 2013 after that Verizon purchased Yahoo along with Tumblr for a soaring $4.5 billion.
Letter I just sent to my team ♥? https://t.co/3Vsv3ROuhf— David Karp (@davidkarp) November 27, 2017
The reason behind Karp’s leave is not clear and the fact that he is leaving a company he has founded makes it a serious concern. Defining his decisions, Karp quoted, “I beg you to understand that my decision comes after months of reflection on my personal ambitions, and at no cost to my hopefulness for Tumblr’s future or the impact I know it can have,”
He further added, “I look back with so much pride, at a generation of artists, writers, creators, curators and crusaders that have redefined our culture and who we have helped to empower.”
The news has come at a point in time when the platform is competing hard among a bunch of leaders who have their own dominated position on a social media and blogging landscape. Platforms like Snapchat and Instagram are the new-gen social media platform that users love to spend their time on. However, it was Tumblr from where it all started.
“David Karp will depart Oath by the end of the year. David founded Tumblr ten years ago as a space for the world’s creators, and we thank him for his commitment and passion driving the growth of the platform to almost 380 million blogs and over 155 billion posts,” Tumblr said in a statement.