In 2021, The Recursive began with a simple conviction: that stories shape stories. That if the world saw innovation rising in emerging ecosystems like Central and Eastern Europe, it would change how capital flows, how partnerships form, how ecosystems evolve. Four years later, that story continues — this time, at global scale.
Today, The Recursive announces a new leadership structure to guide its next chapter. Teodor Antonio Georgiev has been appointed Chief Executive Officer, joined by Etien Yovchev and Dilyana Haralanova as Managing Partners. Co-founder and outgoing CEO Irina Obushtarova remains actively involved as a trusted strategic advisor, ensuring continuity of vision and DNA as the company scales internationally.
The next chapter: from visibility to velocity
This transition is the result of a long-planned evolution — from founder-led growth to institution-building, and it follows a period of significant growth. With H1 projected to double last year’s financial performance for the same period, since the start of 2025, The Recursive has tripled its monthly recurring revenue, expanding its services to meet the needs of a fast-diversifying client base from 12+ countries: from early-stage startups looking to fundraise and build demand, to later-stage IT service companies and global corporations pursuing strategic market expansion, to governments aiming to position their countries as global innovation hubs.
At the core of this evolution is a network that now spans more than 20,000 founders, investors, corporate leaders, media outlets, major conferences and ecosystem builders across Europe, North America, and the Middle East. This infrastructure — built through years of original reporting, event partnerships, and trusted storytelling — now powers something even bigger: a platform for connection, matchmaking, and growth.
With TechCrunch out of Europe, The Recursive is doubling down on the vision to ensure that ambitious founders have the platform they need to reach an international audience and that the continent has a sovereign media outlet at a time it needs it the most.
In 2023, as the market slowed and media outlets globally struggled to stay relevant, The Recursive had to rethink how it could continue creating impact — not just visibility. That moment sparked a deeper transformation.
“We’ve always believed stories shape stories — but we’ve also learned that visibility alone isn’t enough,” said Teodor Antonio Georgiev, CEO of The Recursive. “Our role today is about making the right introductions, amplifying the right signals, and helping the region’s most promising players connect with capital, customers, and talent across borders. I am excited to lead this next evolution in The Recursive story.”
“Leading The Recursive from an idea in a park to a regional platform for innovation has been one of the most meaningful journeys of my life. We didn’t start this to become famous or successful — we started it because it was necessary. Necessary to give the tech and venture community in Central and Eastern Europe a voice. Today, The Recursive is stronger than ever, with a mission-aligned culture, deep ties to the community, and a leadership team ready to take it even further. Stepping down was a gut decision — not because I had to, but because I felt my job was done and it was time to welcome new energy and fresh perspectives. I’ll continue supporting the team as a Strategic Advisor, trusting deeply in their ability to shape the next chapter of this mission we all believe in,” commented Irina Obushtarova, co-founder and now Strategic Advisor.
Three Leaders, One Mission
Georgiev, who built Storytelling Studio, the company’s PR and communications business from scratch into its primary revenue engine, brings a commercially driven and relationship-focused mindset to the CEO role. Under his leadership, The Recursive has secured major clients, unlocked new revenue lines, and expanded its footprint across CEE and Western Europe while building the international brand of Bulgaria with #BreakingGrounds. As CEO, he will focus on scaling international sales, deepening market access, and positioning The Recursive as the go-to strategic partner for ecosystem players looking to grow across regions.
Dilyana Haralanova, as Managing Partner for Operations & Finance, will lead internal scaling and financial planning. Known for her ability to bring structure to complexity, Dilyana has been instrumental in planning and executing the company’s largest multi-market projects. Her focus will be on operationalizing scale, expanding the team’s cross-border capabilities and partnerships, and ensuring delivery quality at speed.
Co-founder Etien Yovchev, now Managing Partner for Growth & Delivery, will continue to lead strategic client delivery, portfolio development, and brand evolution. Under his guidance, The Recursive has delivered more than €1.2M in client projects, executing PR campaigns that have reached over 100 million people globally. Etien will be responsible for ensuring that The Recursive not only tells the right stories — but turns them into clear expansion roadmaps that guide growth across markets.
This transition is not just about new titles — it’s about aligning our leadership structure with the demands of international scale. Each member of the new leadership team brings distinct capabilities that will power our growth across new markets, new clients, and new challenges.
To support this international growth strategy, The Recursive is also launching a Global Advisory Board. The purpose of this non-governing structure is threefold: to channel local expertise and networks to guide The Recursive’s market entry and growth strategy; to strengthen brand credibility and reach among key audiences, and to enable faster access to business opportunities, strategic partnerships, and local talent pools.
As part of his growth mandate, Etien Yovchev, will take the position of Chairman of the Advisory Board, further reinforcing the company’s commitment to cross-border impact. First members will be announced later this summer.
While not involved in day-to-day management anymore, founding CEO Irina Obushtarova also remains a guiding force in the company’s next chapter. Her leadership and deep ecosystem trust have shaped The Recursive’s identity from day one — and will continue to shape its direction as an advisor.
Building the relationship infrastructure for an AI-first world
In a world where every founder worldwide has a megaphone and every story is AI-generatable, the ecosystems that win are those that build real relationships, not just create content. That’s our domain. As AI reshapes how stories are told, the real scarcity is not information — it’s trust, context, and real connections. That’s where The Recursive steps in: not just as a storyteller, but as a broker of relationships that move markets.
“We’re not just publishing stories anymore — we’re shaping how they unfold,” said Yovchev. “When a startup enters a new market, when a country rebrands as a tech hub, when a VC fund expands its LP base — The Recursive is often behind the scenes, helping make those moves visible, credible, and connected.”
“As we enter this next chapter, our focus is on building the operational muscle to match the scale of our ambition — so that the stories we shape can travel further, connect faster, and unlock even greater outcomes across borders,” commented Haralanova.
