Tumblr founder David Karp resigns after 11 years in charge

Tumblr founder and CEO David Karp announced on Monday that he will be resigning at the end of the year after 11 years at the helm.

Karp, who was just 20 when he founded Tumblr in 2007, turned the company into a successful social networking site where artists and bloggers can share content.

Yahoo, which has since been rebranded as Oath after Verizon acquired it earlier this year, bought Tumblr for $1.1 billion in 2013. By 2016, Tumblr’s market value plummeted to almost zero value, as both Yahoo and Tumblr failed to grow the platform as it competed against Facebook and Twitter.

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“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,” an Oath spokesperson said in a statement.

Karp confirmed his resignation on his personal website, sharing a screenshot of his farewell email to Tumblr employees.

“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,” wrote Karp.

After Karp’s departure, Tumblr COO Jeff D’Onofrio will take over his responsibilities. Karp described D’Onofrio in the email as “the most capable and caring leader I’ve ever met.”

After Tumblr’s sale to Yahoo in 2013, Karp received $250 million and was guaranteed $81 million more in cash and stock options if he stayed around for four more years. Karp did not disclose if the end of the four years played a role in his departure from Tumblr and the larger Verizon conglomerate.

Separately, Tumblr’s head of communications Karen Shosfy also announced she was leaving the company on Monday, according to CNN.

Karp’s admirers working in Silicon Valley took to Twitter to acknowledge Karp’s longevity running Tumblr.

Photo: Founder and CEO of Tumblr David Karp arrives at the 17th Annual Webby Awards at Cipriani Wall Street on May 21, 2013, in New York. (Brad Barket/Invision/AP)

 

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  • Bryan Stortenbecker

    He’s geeky hot!

 
 
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