Yahoo! buys Tumblr

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Yahoo! Has officially acquired popular blogging site Tumblr for a reported 1.1 Billion (with a B), the move means David Karp, the 26-year-old high school dropout who founded the company six years ago, owns approximately 25% of Tumblr and is set to reap $253 million in cash as a result, according to data compiled by PrivCo, a New York-based research firm.

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This entry was published on May 21, 2013 at 1:00 pm. It’s filed under News, StaffPick, Technology, video and tagged , , , , . Bookmark the permalink. Follow any comments here with the RSS feed for this post.

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