Kevin Rose has stepped down from Digg, he confirmed Friday evening via Twitter.

"Wow, tons of questions - I'll confine advising Digg/ on the board of directors, & taping Diggnation (as I have been since [CEO Matt Williams] joined)," Rose tweeted.

TechCrunch's Michael Arrington originally broke the story. According to Arrington, Rose is leaving Digg to focus on a new startup he's founded. In fact, Rose is closing out a $1 million funding round for the new company.

Rose founded Digg in 2004. However, the last year wasn't exactly smooth sailing for the company. Former CEO Jay Adelson left Digg in April after he and Rose had a falling out, Arrington said. Rose took over the post briefly, until former Amazon exec Matt Williams was hired as Digg's new chief.

But Digg's issues have been more than managerial.At its peak, the link-sharing site had more than 40 million unique monthly visitors. In August, Digg rolled out the somewhat controversial version 4 update. The redesign was intended to curb the overwhelming authority of the dominant power users, but it was immediately hit with bugs and delays, as well as the disdain of some long-time users.

 A month later, stats showed a decline in Digg traffic by 26 percent in the U.S. and 34 percent in the U.K. Many users abandoned Digg in favor of rival site Reddit.com.

This fall Digg also trimmed its staff by 37 percent.

Details about Rose's new startup haven't been divulged, but he tweeted that he's "excited to explore some new ideas" and that he will share "more news soon."

This article, written by Leslie Horn, originally appeared on PCMag.com and is republished on Gear Live with the permission of Ziff Davis, Inc.