Tumblr founder and chief David Karp on Monday announced he's leaving the almost 11-year-old blogging stage - together with his death coming from the aftermath of Verizon buying parent company Yahoo. Karp said that he will leave at the end of this year and chief operating officer Jeff D'Onofrio will need his place at the helm of both Tumblr. I beg for you to recognize that my decision comes after months of reflection on my own ambitions, also at no cost to my hopefulness for Tumblr's long run or the impact I am aware that it might have, he said in a replica of a letter to employees that he posted on line.
Karp founded Tumblr in New York in early 2007 as a platform where people could share writing and short-form media. Now, Tumblr hosts some 380 million different blogs. We made it really, really simple for people to make a blog and put whatever they want on it. Stories, photos, GIFs, TV shows, links, quips, dumb jokes, smart jokes, Spotify tracks, mp3s, videos, fashion, art, deep stuff, reads a self-description on the website.
Yahoo gained Tumblr in May 2013 for US$1.1 billion (S$1.5 billion), as a portion of the attempt to better connect to younger users. Meanwhile, the Verizon's online unit Oath - that comprises the AOL and recently acquired Yahoo brands - is cutting on a few hundred jobs as a part of a reorganisation, a source familiar with the move said earlier this month.
The discounts represent "less than four percent" of this Oath worldwide workforce of around 12,000, in accordance with the origin. The movement represents Another round of reductions at Oath since the US$4.5 billion purchase of Yahoo in June. We're roughly four months post-close of Verizon's purchase of Yahoo, also we've made our modifications to our team to help align our international organisation into your 2018 roadmap, Oath said in an announcement at the time.
Media reports said the movement could expel around 560 projects in numerous Oath business units like engineering and marketing. Verizon has so much maintained the Yahoo brand, that has a few hundred users worldwide because of its e-mail, news and other expert services. Yahoo's sale capped a very long decline from as it had a summit market worth of a few US$125 billion in 2000.