By Sahil Patel
Maker Studios’ last two co-founders, Ben Donovan and Lisa Donovan, have left the company.
As first reported by Recode, the company announced internally earlier this week of the siblings’ departure. A spokesperson for Maker Studios confirmed the news via a statement: “Lisa and Ben have left the company. They will always be an important part of the Maker family. We are forever grateful for their pioneering vision in founding the company five years ago that has since become the world’s leading provider of online video content for millennials.”
The Donovans were among a group of people that helped launched Maker Studios in 2009. One of the other co-founders, Danny Zappin, who also served as its CEO until 2013, is now suing Maker for illegally ousting him from the company. It doesn’t look like that situation, which is ongoing, will be resolved anytime soon.
Maker Studios sold to Disney earlier this year for $500 million, with additional performance-based terms that could drive up the price to $950 million.
The Donovans sat on Maker Studios’ board up until the deal closed in May, and weren’t active participants in running the company.