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The founders of have finally handed the reins over to new parent company CBS after seven years in charge.

Felix, RJ and Martin haven't given a reason for letting the site move into corporate hands, bar stating: "In response to the 'what's next' question the answer in the short term is 'a much needed holiday'."

However, they did say that " is in good hands and is all set for the future :)"

The site has seen phenomenal growth in the last few years, and currently has nearly 40m unique users worldwide.

A new era

CBS bought the site for an estimated £140m in 2007, and since then the site has moved into new avenues, including a deal with Microsoft to enter the Xbox platform and multiple mobile phone clients.

However with the advent of the likes of Spotify it's likely that the efforts will have to ramp up further to keep at the top of the streaming pile.

Some have pointed to the recent allegations that information from has been passed to the RIAA in the US as the reasons the founders are stepping down, but this rumour has been vehemently denied by the site time and time again.

Via blog

Gareth Beavis

Global Editor-in-Chief

Gareth has been part of the consumer technology world in a career spanning three decades. He started life as a staff writer on the fledgling TechRadar, and has grown with the site (primarily as phones, tablets and wearables editor) until becoming Global Editor in Chief in 2018. Gareth has written over 4,000 articles for TechRadar, has contributed expert insight to a number of other publications, chaired panels on zeitgeist technologies, presented at the Gadget Show Live as well as representing the brand on TV and radio for multiple channels including Sky, BBC, ITV and Al-Jazeera. Passionate about fitness, he can bore anyone rigid about stress management, sleep tracking, heart rate variance as well as bemoaning something about the latest iPhone, Galaxy or OLED TV.