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: Yahoo! completes Tumblr takeover

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

TCS, Mitsubishi to create new Japan IT services firm

57 minutes ago

India's biggest outsourcing firm Tata Consultancy Services (TCS) and Japan's Mitsubishi Corp said Monday they are teaming up to create a Japanese software services provider with annual revenues of $600 million.

Chinese tech giant Alibaba set to make a splash with US IPO

16 hours ago

The largest tech IPO of the year will come from a company that many Americans have never heard of. Alibaba Group - a Chinese e-commerce behemoth - has decided to go public in the U.S. after months of speculation that it would ...

Ex-Apple chief plans mobile phone for India

Apr 19, 2014

Former Apple chief executive John Sculley, whose marketing skills helped bring the personal computer to desktops worldwide, says he plans to launch a mobile phone in India to exploit its still largely untapped ...

Airbnb rental site raises $450 mn

Apr 19, 2014

Online lodging listings website Airbnb inked a $450 million funding deal with investors led by TPG, a source close to the matter said Friday.

User comments : 0

More news stories

TCS, Mitsubishi to create new Japan IT services firm

India's biggest outsourcing firm Tata Consultancy Services (TCS) and Japan's Mitsubishi Corp said Monday they are teaming up to create a Japanese software services provider with annual revenues of $600 million.

Finnish inventor rethinks design of the axe

(Phys.org) —Finnish inventor Heikki Kärnä is the man behind the Vipukirves Leveraxe, which is a precision tool for splitting firewood. He designed the tool to make the job easier and more efficient, with ...

Atom probe assisted dating of oldest piece of earth

(Phys.org) —It's a scientific axiom: big claims require extra-solid evidence. So there were skeptics in 2001 when University of Wisconsin-Madison geoscience professor John Valley dated an ancient crystal ...