Microblogging site Tumblr is now part of the Yahoo Group. Its founder, David Karp, has sold the social media site for over US$1 billion, reports say.
Karp founded the start-up six years ago in his mother’s tiny apartment in Manhattan’s Upper West Side. Who would have thought that from its humble beginnings, Tumblr would make it big, boasting around 900 posts per second?
This is a remarkable achievement for a man who did not even finish high school. He reportedly dropped out at age 15 and turned to homeschooling, but failed to receive a diploma.
Professor Paul Levinson, who teaches Media Studies at Fordham University, said, “No one knows much about him at all. It’s interesting he was home schooled. You have Bill Gates, a college dropout, and really the same as Steve Jobs.”
What we now know for sure is that the sale gives Karp deep pockets at just 26 years old. In fact, he made it to the Forbes’ “30 under 30” list recently. He also remains the CEO of the start-up
Karp assured users, “Our headquarters isn’t moving. Our team isn’t changing. Our roadmap isn’t changing. And our mission – to empower creators to make their best work and get it in front of the audience they deserve – certainly isn’t changing.”
Yahoo President and CEO Marissa Mayer welcomed Tumblr to the company while vowing not to change the site. She said Yahoo hopes to make the site faster and better whilst emphasising that it will be operated independently.