Tumblr founder to get $81M to remain at Yahoo

Aug 09, 2013

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.

The retention payment disclosed in a regulatory filing Thursday is part of the windfall that Karp and Tumblr investors realized by agreeing to sell the service $1.1 billion in May.

Karp turned 27 last month. He started Tumblr in 2007, a few years after he dropped out of high school in New York to concentrate on .

Yahoo Inc. CEO Marissa Mayer has pledged not to make any dramatic changes at Tumblr. As part of that promise, Mayer is allowing Karp to run Tumblr independently in New York. Yahoo is based in Sunnyvale, Calif.

Explore further: Verizon 2Q profit rises 93 percent

1 /5 (1 vote)
add to favorites email to friend print save as pdf

Related Stories

Yahoo! completes Tumblr takeover

Jun 20, 2013

Yahoo! said Thursday it has completed a billion-dollar deal taking over the popular blogging platform Tumblr, a move aimed at bringing more youthful users into the company's orbit.

Yahoo! vows not to ruin Tumblr after $1.1 bn takeover

May 21, 2013

Marissa Mayer has made her boldest move to date as chief of Yahoo! with the billion-dollar purchase of Tumblr, a popular blogging platform she vowed not to ruin after protests from youthful users.

Yahoo! sets event amid Tumblr talk

May 17, 2013

Yahoo! scheduled a news conference Monday amid reports it was in talks on with the popular blogging platform Tumblr about an acquisition or strategic alliance.

Recommended for you

Microsoft CEO sees 'bold' plan as 4Q tops Street

4 hours ago

(AP)—Microsoft Corp. CEO Satya Nadella painted an upbeat vision of the future Tuesday, saying that the next version of Windows will be unified across screens of all sizes and that two money-losing units—Nokia ...

Apple's fiscal 3Q earnings top analyst forecasts

14 hours ago

Apple's growth prospects are looking brighter as anticipation builds for the upcoming release of the next iPhone, a model that is expected to cater to consumers yearning for a bigger screen.

Verizon 2Q profit rises 93 percent

22 hours ago

Verizon reported Tuesday that its second-quarter earnings nearly doubled after it secured full ownership of Verizon Wireless.

User comments : 0