These days, making a billion bucks is as easy as writing a mobile app. Facebook’s recent acquisition of Instagram for $1 billion is the perfect example to prove it as a matter of fact. Now, another tech billionaire is about to be born. David Karp, the founder of the famous micro-blogging site, Tumblr is set to sell his precious to Yahoo! for a whopping $1.1 billion dollars.
“Yahoo’s board has approved the all-cash deal to buy Tumblr, people familiar with the matter said Sunday. Tumblr’s board also has approved the deal, one of the people said.” Latest report from Wall Street Journal confirmed the rumored Yahoo! deal to acquire Tumblr for $1.1 billion.
It’s certainly amazing that Yahoo! wanted to buy the dying social platform with just 100 million users for that amount of money. According to WSJ, “this transaction would add Yahoo to the list of established Internet companies” alongside Google and Facebook. It appears that it’s more about the “power” rather than making more money.
Yahoo made some pretty big deals over the past few months since the arrival of the new CEO Marissa Mayer but, this has to be the biggest deal of all.
All money talks aside, this deal makes our 26-year-old founder, David Karp a millionaire, not a billionaire because he only owns 25 percent of the company. Still the full credit goes to himself. Not bad for a high school drop-out, right?
(Image source: Wikimedia Commongs)
[Via: Mashable / Source: WSJ ]
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Roshan Jerad Perera
