Tumblr founder and CEO, David Karp, is stepping down and will leave the company at the end of this year. Taking over as CEO will be Tumblr COO David D’ Onofrio after Karp leaves. Tumblr’s parent company, the Verizon-owned media conglomerate, Oath has also confirmed Karp’s departure in a statement.
“David Karp will depart Oath by the end of the year,” the spokesperson said in an emailed statement. “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. Going forward, Jeff D’Onofrio, President and COO of Tumblr, will continue to lead the team”, the statement reads.
Karp founded the Tumblr nearly a decade ago and soon became a blogging giant. During the earliest days of web blogging, it offered a platform for artists, writers, and others with a creative bent of mind a place to express themselves.
In a note addressed to his colleagues, Karp says, “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 further added that “the internet is at a crossroads of which this team can play a fundamental role in shaping.”
To recall, Tumblr was acquired by Yahoo in 2013 in a deal worth $1.1 billion. Though Yahoo has been a property of Verizon following a $4.5 billion acquisition back in June this year. Now, this basically meant that Karp and his social network was put under Yahoo initially, and four years later he became a Verizon employee.
Such massive corporate changes may be the reason may be the reason why Karp is finally leaving his creation, Tumblr. However, it’s still unclear why he has stepped down or what are his plans for the future. Despite the circumstances, Karp’s departure essentially suggests the end of a blogging juggernaut.