Tech kids seem to be making a name for themselves. David Karp is just another to join the family, with his company, founded in 2007 – Tumblr. Karp is a high school drop out who taught himself to code HTML at the age of 11. The 26-year-old is set to join the ranks of Mark Zuckerberg on the 20 something billionaire list. Karp’s fortune is nowhere close to that of Zuckerberg’s $100 billion, but will still see him be set for life.
Tumblr has 100 million users and receives 90 million post daily. The Yahoo board agreed to pay $1,1 billion (R10 billion) CASH. Tumblr is a microblog where users can quickly share photos, videos and text. Users follow other tumblr accounts and create news feeds similar to Twitter and Facebook. Karp founded the company in 2007 at the age of 21, in his mother’s small apartment. Since then he has received many offers to purchase the company. He sold 25% of the compnay in 2008 for $750 000 (R7 million).
Curently living with his girlfriend in a mdoest apartment in New York, the son of a music composing father, has a mother who was a teacher. Karp was encouraged by his parents to follow his tech dreams without falling prey to Silicon Valley.
Yahoo’s latest acquisition is part of CEO Marissa Mayer’s way forward for the company.
[Source: The Daily Mail]
