Tumblr founder and CEO David Karp has decided to step down from his position. It’s been more than 10 years since he founded the blogging site. The announcement was made through a memo sent to his employees on Monday.
Karp posted the announcement on his personal blog after sharing it internally with Tumblr’s team. According to an Oath spokesperson, until the company hires a permanent replacement, Jeff D’Onofrio, who is currently the president and COO of Tumblr will take over Karp’s position. Karp will quit by the end of this 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,” the spokesperson told Business Insider.
Tumblr was founded in 2007 Karp at the age of 20. The platform quickly gained popularity among young adults and creative people as a place to share a vast range of usually quirky material. In early 2014, Tumblr was at its peak with around 115 million posts every day.
In the last five years, the company has been through some major organizational changes. In 2013, Yahoo purchased Tumblr for $1.1 billion in cash. Earlier this year, Verizon purchased Yahoo including Tumblr in a deal worth $4.5 billion, combining Yahoo and AOL into a newly formed subsidiary called Oath. Tumblr has more than 555 million monthly visitors and as of November 2017, Tumblr hosts over 375.4 million blogs.
Karp, in a note sent to his colleagues at Tumblr, wrote, “[the] 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 went on to write, “The internet is at a crossroads of which this team can play a fundamental role in shaping.”
Karp did not give any specific reason for leaving and declined to state what he plans to do next.