First of all: here’s the link to the full story:
And to quote Peter Wells, one of the co-founders who got kicked out:
Jeff is the heart and soul of TuneCore, and frankly, its brains. No one knows this space like he does, especially when it comes to publishing. I said earlier that TuneCore was having astonishing success–it is, and that’s due to a lot of hard work from a lot of brilliant people (whom Jeff found and convinced to come on board). It’s also due to Jeff’s vision and leadership. Why on earth would Jeff be asked to leave? Why now, in the face of so many successes, and on the cusp of doing for publishing what he’d already proven he could do for distribution? It makes no sense.
Apparently, even success is not a guarantee to keep your job. Not even if you started the company. I’m personally touched by this news, since I’m looking into starting a tech-based company myself at some point and it does make you think twice (at least!) about bringing in Venture Capital…
In general, this is definitely a blow for entrepreneurs who look up to successful peers as Jeff&Peter…
Curious what’s the reason for all this… I’m sure we’ll find out soon enough.