Selling Tumblr
-Karp
sold Tumblr to Yahoo for $1.1 billion, even though he had previously opposed selling his social media site.
-Yahoo wanted to attract a younger audience and Tumblr sparked their interest. The deal is the biggest acquisition for Yahoo since CEO
Marissa Mayer took over last year.
-Because of the sale, Karp is now the latest tech billionaire under 30.
-He will
stay on as CEO and continue to develop the site.
-Tumblr has attracted a number of celebrities including
Lady Gaga,
John Mayer and
Zooey Deschanel.
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