Topline
Evan Williams, who also co-founded Twitter, announced Tuesday he is stepping down as CEO of Medium a decade after launching the innovative blogging platform known for its disparate variety of posts.
NEW YORK, NY – APRIL 26: Evan Williams attends 2016 Time 100 Gala, Time’s Most Influential People … [+]
Key Facts
Evan Williams, known as “Ev,” wrote in a Medium post, later shared on Twitter, that he is stepping down as CEO and taking on a new role as chairman of the board.
Along with Twitter, Williams also founded Blogger, an early online publishing website.
Tony Stubblebine, CEO and founder of online coaching company, coach.me. will take over Willaims’ role.
Stubblebine also publishes “Better Humans,” a popular self-improvement publication on Medium.
Next, Williams plans to eventually start a new holding company or research lab, as well as write on Medium – and said he would continue his efforts to “create a better information ecosystem.”
Williams is currently worth $2 billion, according to Forbes.
Key Background
A dropout of the University of Nebraska, Williams grew up on a soybean and corn farm and eventually helped found three major online publishing companies, Blogger, Twitter and Medium. Williams also has a venture capital firm, Obvious Ventures, which was one of the largest investors in the company Beyond Meat.
Tangent
Medium has changed its publishing strategy numerous times, leading to hefty layoffs. In 2017, the company switched from a traditional advertising model to a subscription-based model, and fired about 50 employees. In 2021, the company pivoted again to a different revenue model to compete with newer outlets like Substack, and offered buyouts to any employees “who would rather get off this crazy ride.”
Crucial Quote
In the Medium post announcing his departure, Williams wrote, “Medium’s story is far from over,” adding that he was proud to have “helped pioneer a healthier model for content that doesn’t hijack or sell people’s attention or data.”
Further Reading
Evan Williams Is Stepping Down as C.E.O. of Medium (the New York Times)
The Mess at Medium (The Verge)
Source: https://www.forbes.com/sites/juliecoleman/2022/07/12/medium-founder-evan-williams-is-stepping-down-as-ceo/