Tumblr Cuts Editorial Team

Tumblr is disbanding Storyboard, its four-person editorial team, and all four employees will be “moving on,” CEO David Karp said in a post. Late last year, Tumblr told Forbes that it was hoping to generate $100 million in revenue in 2013; last month, it also told Bloomberg that it would be profitable this year. Update: Tumblr PR tells BetaBeat that three employees will be let go.