Flickr Duo Ditching Yahoo, Too (YHOO)

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fake-butterfield.jpgTwo more high-profile losses for Yahoo: Caterina Fake and Stewart Butterfield, the husband-and-wife duo that founded photo sharing site Flickr -- and sold it to Yahoo for a reported $30+ million in 2005 -- are leaving the company, TechCrunch's Michael Arrington reports. Fake reportedly left last Friday; Butterfield will leave July 12, says Arrington. (Who leaves on a Saturday?)

Departures like this aren't surprising -- it's been three years since Flickr was acquired. But Yahoo (YHOO) should be doing everything in its power to keep smart entrepreneurs (assuming they care) on its payroll right now -- not shedding them. More bad news for Jerry Yang and Sue Decker.

See Also:
Time To Stem The Yahoo Bleed, Jerry
Yahoo's Hiring Freeze, Confirmed And Explained
New Yahoo Hire: Jerry's Severance Plan Makes Plenty Of Sense



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16 Comments

a yahoo said:
this is depressing..... 2 execs, the flickr entrepreneurs, a bunch of ppl in my team.. :*(

I still have some hope that Icanh will come to our rescue

bernielomax said:
the roof, the roof, the roof is on fire. we don't need no water let the mo'fo burn.

get out, while you still can.

stone said:
Where's good old risk:reward when we need a fresh perspective from the apologist wing? Spin this --- willya?

Tim F. said:
@stone Easy enough. Fake and Butterfield haven't done much since Yahoo acquired Flickr. The difficult task of further monetizing the property and evolving it (which the overly devoted community is so resistant to) wasn't being progressed by them. They were just adding to the baggage of too many high ranking execs doing too little.

purplerein (URL) said:
something tells me that any real yahoo who was yearning for rescue from icahn (haven't met any) would probably know how to spell his name correctly.

maybe these people leaving now were just waiting to see if their options might have come up for air?

purple haze said:
these two just wanted to be adored as quirky SF geniuses (see stewart's HI-larious resignation letter at the wag), looked askance at their new corp overlords and were never really effective inside y (and i seem to recall the mrs giving an embarrassingly terrible presentation at a sales conf a year ago). but even with their limitations you have to ask whether the cool kids over at goog could have extracted more from these primadonnas. for some reason i think the answer may have been yes... the bottom line is that if you have a brain you do not belong at yhoo.

Thomas Hawk (URL) said:
When Stewart and Caterina sold their company to Yahoo! three years ago the stock price was 40% higher than it is today -- hopefully they took more cash than stock. If your three year lock up was over, wouldn't you now jump the sinking ship?

Tim F. said:
Thomas, I don't know. But Zooomr certainly peaked a year ago -- if you could cash out, would you? Because I'm pretty sure the couple could let all of their Yahoo stock rot and they and their company will still be more successful than your dinghy.

noblow said:
Fake & Butterfield were just lucky to get aquired by YHOO, but they lacked executional excellence. Looking at last years user revolt at Flickr over censorship in Germany and elsewhere, they were just submitting to YHOO corporate culture. At that point it was 99% clear that they would leave after the lockup period.
I don't think they are a great loss to YHOO. Then again, the fact that they leave (with stock underwater) drives home the point that they see no future for the mothership.

gil c. said:
Does the couple's resignation qualify them with severance package that the BOD implemented?


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dixie (URL) said:
640-802 Flickr Duo Ditching Yahoo, Too (YHOO) Don't get mad. It's not worth it. Out of my control.

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