Max Levchin, founder and chief executive of point of sale credit startup Affirm and co-founder of PayPal, has resigned from his position as chairman of Yelp's board.

In a tweet from Levchin, who served on the location-based online listing site's board for 11 years, he explained that "Yelp is extremely awesome," but "Affirm is taking nearly all of my time."

 "We have mutually agreed this is the right time for him to step down given the demands on his time," said Yelp CEO Jeremy Stoppelman in a July 29 press release. "I am grateful for his contributions to Yelp's success and wish him all the best going forward."

 Yelp said in its release that it has not yet named a replacement chair but plans to consider one at its next board meeting in September. 

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