Yelp Chairman Levchin Steps Down to Focus on Startup Affirm

What’s the Future Value of Yelp?

Max Levchin said he has stepped down as Yelp’s board chairman to focus on his consumer financing startup Affirm.

Levchin, a PayPal co-founder, said he remains a “huge supporter” of the consumer-review website after 11 years on the board, but his role as chief executive officer of Affirm has become “110 percent of a full-time job for me.” Affirm recently announced a $275 million funding round.

“My investors and employees are very keen on a CEO who is single-mindedly focused on his company during its period of extreme growth,” Levchin wrote in an e-mail.

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