Indiegogo’s CEO steps down amid layoffs

David Mandelbrot is out as CEO of crowdfunding site Indiegogo, citing “personal reasons” in his farewell LinkedIn post. The company also laid off some employees, according to sources familiar with the matter.

Andy Yang will begin his tenure as the next CEO today, Mandelbrot said in his post, which was published yesterday. Yang was most recently “leading core product at Reddit,” and had previously been the CEO of 500px, an online platform and community for photographers. “I’m thrilled to take over the CEO reins from Dave and enable the company to further achieve its mission,” Mandelbrot quoted Yang as saying.

The post did not comment on the layoffs. An email to Mandelbrot wasn’t returned. Indiegogo declined to comment.

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