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#Girlboss Founder & CEO Sophia Amoruso Steps Down

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Sophia Amoruso,  founder  and CEO of apparel retailer Nasty Gal  and  Girlboss,  has  announced  on an Instagram post that she is steeping down.

 

Amoruso,  sold her  company  Girlboss—a media platform that hosted events, a blog, a podcast, and even a social network that was  called  “LinkedIn for Women”—to Attention Capital, a new media holding company that aspired to become the next IAC. She remained its CEO.

. In her post, Amoruso writes:

2020 has quite literally been a world of pain for most of us in some way, shape, or form. For Girlboss, COVID was a head-on, high-speed collision.

The Girlboss business relies upon two things to drive revenue: events and brands sponsoring those events. Yes, we also host podcasts, send newsletters, and are highly visible on social, but the majority of our brand partnerships are also predicated on some integration with the Girlboss Rally.

I’ll keep most of the details for the next book, but essentially it boiled down to this: we had a high 8–figure partnership lined up, along with other deals that we’d already closed. Then BAM. COVID hit. Revenue decimated.

In the post, Amoruso noted that the Girlboss social network community was 60,000 members strong. And donations to female entrepreneurs totaled $430,000, among other accomplishments.

“I’m not sure what’s next for me, but what I am sure of is that I’ll always be a champion for Girlboss,” Amoruso wrote. “I’ll always be ‘the’ Girlboss. And I’ll keep harvesting my learnings for all of you as much as I can, wherever I can.”

And while she said she plans to prioritize “wellbeing over my ambition” and “inspired to give more than I receive, and to be of service,” she’s already launched “a little love letter/newsletter” that she hopes her followers will subscribe to.

View this post on Instagram

The only time I’ve cried in front of my team was when I read this letter aloud on Zoom.  As of last week I, along with the majority of our team, are no longer with Girlboss.  2020 has quite literally been a world of pain for most of us in some way, shape, or form. For Girlboss, COVID was a head-on, high-speed collision.  The Girlboss business relies upon two things to drive revenue: events and brands sponsoring those events. Yes, we also host podcasts, send newsletters, and are highly visible on social, but the majority of our brand partnerships are also predicated on some integration with the Girlboss Rally.  I’ll keep most of the details for the next book, but essentially it boiled down to this: we had a high 8–figure partnership lined up, along with other deals that we’d already closed. Then BAM. COVID hit. Revenue decimated.  I’m not sure what’s next for me, but what I am sure of is that I’ll always be a champion for Girlboss. I’ll always be “the” Girlboss. And I’ll keep harvesting my learnings for all of you as much as I can, wherever I can.  Here’s what I do know: For the first time in my life, I’m prioritizing my wellbeing over my ambition. I’m inspired to give more than I receive, and to be of service.  If you want to stay posted on whatever I end up doing next, I’ve launched a little love letter/newsletter that I hope you’ll join. The link’s in my bio.  Thank you to the millions of women who supported Girlboss. Thank you to the early investors who believed in us. Thank you, Joe Marchese, for buying the company just six short months ago—who could have known we’d be here today. Thank you to by far my proudest accomplishment, the team at Girlboss, who taught me so much.  Sophia 

A post shared by Sophia Amoruso (@sophiaamoruso) on

 

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