While Tumblr is celebrating its 100 million-plus blog achievement and its expansion efforts, their Storyboard journalism project will no longer be a part of the party. Tumblr CEO David Karp announced Tuesday night that it will retire its year-old digital publication and in turn lay off its staffers.
Karp said: “After hundreds of stories and videos, features by publishers ranging from Time to MTV to WNYC — not to mention a nomination for a James Beard Award and entries into this year’s NY Press Club Awards — we couldn’t be happier with our team’s effort. And as Tumblr continues to evolve, we’ll always be experimenting with new ways to shine light on our creators.”
He would not speculate as to why they’re throwing in the towel, but one reason could be its profitability. An analyst told The New York Times that Tumblr may be looking for ways to increase its profit margins and that having Storyboard around meant more cost for less return.
Tumblr’s Storyboard project follows similar efforts by Facebook and Twitter to curate and report on news stories shared by their users. Some of Storyboard’s more compelling pieces included its story on how pizzerias in New York City coped with Hurricane Sandy and the lost Muhammad Ali interview.
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