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Tumblr Axes Its Editorial Team

It's CEO praised their work and then fired them


tumblr on pc 630Last year Tumblr launched Storyboard, a project that employed journalists to report on the blogging platform’s activities.

This week, Tumblr shut down Storyboard and fired its editorial staff. The move came despite praise from company CEO David Karp, who said he “couldn’t be happier” with Storyboard’s accomplishments, CNET notes.

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Only three employees were reportedly affected by the decision.

Tumblr, which now allows advertising on its website, is projected to become profitable for the first time this year. The New York City-based company has raised more than $125 million in financing since 2007, BetaBeat noted.

In October, Tumblr experienced a major outage, which left bloggers unable to access their postings for more than three hours. Tumblr currently hosts more than 77 million blogs.

Article printed from InvestorPlace Media,

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