Tumblr CEO David Karp will step down at the end of this year
David Karp Tumblr
A spokesperson for Tumblr parent company Oath confirmed the news  saying the company's COO  Jeff D'Onofrio  will oversee  Tumblr  after Karp's departure 
David Karp will depart Oath by the end of the year.  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.
Karp sold  Tumblr  to Yahoo in 2013 in a staggering $1.1 billion cash deal. The acquisition was among Mayer's most high profile acquisitions—and later became one of the former Yahoo CEO's biggest flops.
Despite promising "not to screw it up" in 2013  the site declined in popularity following the acquisition and ambitious sales goals went unmet. Yahoo was eventually forced to write down more than half $1.1 billion it paid for  Tumblr .
A spokesperson for Tumblr parent company Oath confirmed the news  saying the company's COO  Jeff D'Onofrio  will oversee  Tumblr  after [TGT]'s departure 
[TGT] will depart Oath by the end of the year.  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.
[TGT] sold  Tumblr  to Yahoo in 2013 in a staggering $1.1 billion cash deal. The acquisition was among Mayer's most high profile acquisitions—and later became one of the former Yahoo CEO's biggest flops.
Despite promising "not to screw it up" in 2013  the site declined in popularity following the acquisition and ambitious sales goals went unmet. Yahoo was eventually forced to write down more than half $1.1 billion it paid for  Tumblr .