BuzzFeed president leaving to join venture capitalist firm

Tue May 13, 2014 10:27am EDT

Related Topics

May 13 (Reuters) - BuzzFeed President and Chief Operating Officer Jon Steinberg is leaving the online entertainment and news start-up.

"It's time for him (Steinberg) to move on to new ventures and challenges," Steinberg and BuzzFeed founder Jonah Peretti wrote in a memo circulated to staff on Monday and provided to Reuters by BuzzFeed.

Founded in 2006 with the backing of investors including venture capitalist firm Lerer Ventures, BuzzFeed is known for its so-called "listicles" lists of cute cats and more recently for its foray into news.

Steinberg is joining Lerer Ventures and but will continue to advise BuzzFeed.

A former Google Inc executive, Steinberg was BuzzFeed's 15th employee. He steered the company's advertising and its quizzes, which are ubiquitous on Twitter and Facebook.

BuzzFeed's revenue is expected to double this year to $120 million, a person familiar with the company told Reuters in February. (Reporting by Jennifer Saba in New York; Editing by Tom Brown)

FILED UNDER: