Apr 9, 2012 ยท 0 minutes

PandoDaily has always had a pact with readers that we'll be open and honest-- particularly on the subject of our investors. Typically, this means we're telling you about new investors.

Today, however, we find ourselves in the unexpected position of having to disclose a change in our relationship with an existing investor.

As of Monday, April 9 the shareholders of PandoMedia voted to remove Michael Arrington as a director. Given the change in relationship we feel it's inappropriate for CrunchFund's partners Michael Arrington and MG Siegler to continue contributing to PandoDaily. We thank MG for his many stellar contributions to date and Michael for his support in the early days of the company.

We have nothing more to say about the move and offer nothing but good wishes to CrunchFund in the future.

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