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Tumblr CEO David Karp Is Stepping Down From The company

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David Karp, Tumblr CEO and founder who created the blogging site at the age of 20, has decided to resign from the company after working as the CEO for 10 years.  The news was first reported by the New York Times, says in a statement from Verizon owned media Conglomerate Oath, a company Tumblr belongs to (Yahoo owns Tumblr and Verizon acquired Yahoo and now it means Verizon owns Tumblr) following the mergers and acquisitions strings over the last four years.

The statement reads that “David Karp will depart Oath by the end of the year,Also that “David founded Tumblr 10 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 has been a property of Yahoo since 2013, after the $1.1 billion acquisition that put the social media platform under guidance of then -Yahoo chief executive Marissa Mayer. Four years later, Yahoo was sold to Verizon which was finalized this year, after Mayer’s departure back in June which makes David karp a Verizon employee as part of a combination of AOL and yahoo into a company called Oath.

Karp in a note which he sent to his colleagues at Tumblr saying that “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 also added that  “The internet is at a crossroads of which this team can play a fundamental role in shaping.”

Tumblr offered a service as a platform for writers, artists and other content creators with a unique penchant, peculiar and amazing aesthetic giving them a voice, a place to express themselves helping them go viral in web blogging.

According to the statement,  Tumblr chief operating officer Jeff D’Onofrio will taking over from Karp , going forward as the permanent CEO of Tumblr.

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