Keith Rabois, the former PayPal and Square executive turned venture capitalist, has resigned from the board of directors of Yelp, the company announced today. He is being replaced by Mariam Naficy, founder and CEO of Minted.com, a venture-backed online stationery and card company that counts Yelp CEO Jeremy Stoppelman among its investors.
Rabois is currently a partner at Khosla Ventures and said in an interview that he had been looking to cut down on his public company board seats to make more time for his portfolio companies, including six whose boards he already sits on.
“Once you become a professional VC, that’s what you get paid to do,” he said.
Rabois, who had served on Yelp’s board for more than eight years, is still a director at one other public company, digital money transfer firm Xoom.
Before Minted, Naficy ran the e-commerce division at The Body Shop.