BuzzFeed president and chief operating officer Jon Steinberg will step down and take on an advisory role with the company, according to an internal memo provided by a BuzzFeed spokesperson.

"Jon has decided after four years of being President and COO of BuzzFeed, it's time for him to move on to new ventures and challenges and will be moving into an advisor role at BuzzFeed," Steinberg and founder and CEO Jonah Peretti wrote.

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