8 Comments

Summary:

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 […]

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.

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  1. michael arrington Friday, August 25, 2006

    hmm…I wonder who that was that thought this might have been a hack…

  2. I thought it was Mr. Crunch.

  3. Mike, I added a link to your post.

  4. michael arrington Friday, August 25, 2006

    well that’s no fun. now I can’t leave snippy comments.

  5. Of course you can ;-)

  6. Pete Cashmore Friday, August 25, 2006

    OK, now we’re all together, I’d like to announce the Mashable Job Board!

    Kidding, kidding. :)

  7. It’ll be interesting to see if this is too late or not turn things around. Their less-than-stellar offering makes it easy for people to look elsewhere for their social network.

  8. Darn it. Liz has ruined my careful plans to orchestrate a catfight between Om and Mike. I had a deal with ValleyWag and everything! Sigh. :P

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