Yahoo’s recently completed acquisition of Internet blogging service Tumblr includes an $81 million payment to Tumblr founder David Karp as long as he remains on the job for the next four years.
Yahoo has completed its $1.1 billion acquisition of online blogging forum Tumblr.
Yahoo is buying online blogging forum Tumblr for $1.1 billion as CEO Marissa Mayer tries to rejuvenate an Internet pioneer that had fallen behind the times.
t’s one thing to say tech geniuses don’t need degrees. After all, Bill Gates, Steve Jobs and Mark Zuckerberg all dropped out of college. But now we’ve got David Karp, who doesn’t even have a high school diploma. Karp, 26, founded Tumblr, the online blogging forum, and sold it to Yahoo for $1.1 billion.
As a teenager, Tumblr CEO David Karp would canvass the streets of New York City’s Upper West Side, offering to build websites for local businesses. After his freshman year of high school, the precocious, computer-savvy kid decided to drop out altogether to devote more time to his passion for technology.