YouTube is growing by leaps and bounds, but growth alone is not enough to drive success in a social-media market that demands monetization. That may be why Chad Hurley, a cofounder of YouTube, is stepping down as head of the company.
On Thursday, Hurley resigned as CEO of the company he launched with cofounders Steve Chen and Jawed Karim in 2005. He is being replaced by Salar Kamangar, who most recently served as vice president of web applications at Google, YouTube’s parent company.
“Right now I am in the process of transitioning into the role of adviser, stepping down, still being involved in the company, but it’s given me an opportunity to work on new projects,” Hurley told attendees at the F.ounders international web conference in Dublin on Thursday evening. “We were lucky enough to find Salar, who was one of the founders of AdWords. He is responsible for the whole thing. For me, he was someone who was going to be able to drive the business.”
Hurley’s Next Frontier
Google bought YouTube for about $1.65 billion in a stock deal in 2006. As part of the acquisition, Hurley agreed to stay on board for 18 months. He has apparently been working on a new idea behind the scenes for the past couple of years, though he declined to disclose the particulars at F.ounders.
“I think you will see a point where the traditional model of advertising on TV or advertising online will go and advertisers will cover one program, no matter what platform it’s being broadcast on,” Hurley told attendees. “You’ll see the same ads whether you are watching it on your TV, your computer, or your phone.”
The news of Hurley’s departure comes as YouTube announced it has reached the one-billion subscription mark. Georges Haddad, a product marketing manager at YouTube, said…