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Bitly CEO Peter Stern Steps Down

In a mysterious blog post, the company said the CEO was leaving to "pursue other interests."

Bitly CEO Peter Stern Steps Down

Bitly CEO Peter Stern has stepped down from the startup after about a year on the job, according to a short statement on the company's blog that he "has resigned to pursue other interests."

"Peter has been a key leader and contributor to the Company," said Bitly Board member Sam Mandel in a statement. "In particular he has been instrumental in transforming Bitly into a successful business while growing its unparalleled data set. We are very happy that he will remain a shareholder and supporter."

Bitly raised $15 million in its last funding round but as TechCrunch noted, the link-shortening company's attractiveness to investors has cooled as other service and Twitter itself have made Bitly less revolutionary than it once was.

Details to come, we're sure. So stay tuned.