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.
https://www.instagram.com/p/CBvvVyfnmd_/?utm_source=ig_web_copy_link
