Arianna Huffington will no longer head up her namesake publication, according to The Wall Street Journal.
In June 2015, Ms. Huffington — cofounder, president and editor-in-chief of The Huffington Post — signed a contract that enabled her to remain at her current post while also launching a new company, Thrive Global.
But last week, she secured series A financing for Thrive Global and decided to step down from the Post. "I really thought I could do both, but as we started building it up, I realized that it really needed my full attention. It is important to know when one door closes and another opens and I felt that moment had arrived," she said, according to the report.
Thrive Global is an online startup that will help companies improve their employees' wellbeing. In addition, it will offer apps and events to interested consumers, according to The Huffington Post. It comes as no surprise that Ms. Huffington is interested in such a venture — through the years, she's published numerous books on health and wellness, including Thrive: The Third Metric to Redefining Success and Creating a Life of Well-Being, Wisdom, and Wonder and The Sleep Revolution: Transforming Your Life, One Night at a Time.
The series A funding for Thrive Global — which will officially launch in November — was headed up by Lerer Hippeau Ventures. Blue Pool Capital, Advancit Capital, Greycroft Partners and entrepreneur Sean Parker also made investments.
Ms. Huffington will step down within the next few weeks, according to WSJ.