Rumors have been flying since Mark Pincus posted to Tribe yesterday saying he’d taken back control of the company. Pincus had founded the social networking startup but had since turned over operations and served as a board member.
“as of today jan and the board are gone,” he wrote. “i’ve taken over tribe and you’re going to see big changes fast like getting rid of this big stupid masthead and returning tribe to the users where it belongs.”
Some wondered it the announcement was a hack, but Matt Marshall at SiliconBeat has spoken with Mark and confirmed the shake-up. Matt reports this has been the case (informally, apparently) since May. Rather than selling the company as was the previous management’s plan, Pincus is apparently thinking about a recapitalization round.