8 things about Tumblr's young, rich founder
David Karp, 26, becomes tech's newest mega-millionaire after Yahoo buys his company for $1.1 billion.
The 26-year-old New Yorker is selling Tumblr, the blogging platform he started in his mother's apartment in 2007. Yahoo (YHOO) is buying Tumblr for $1.1 billion, which vaults Karp into the small club of computer geeks who became instant mega-millionaires in corporate buyouts.
Here are eight things you may not know about Karp:
1. He dropped out of high school and didn't go to college. He spent just one year at the Bronx High School of Science before dropping out, reports The New York Daily News. He was home-schooled for the remainder of his high school education.
2. He already lives well. He has a $1.6 million loft in Williamsburg, Brooklyn, that he shares with girlfriend Rachel Eakley, a graduate student studying psychology.
3. He had a comfortable upbringing. He grew up in Manhattan's posh Upper West Side. His father was a music composer who created songs for movies and television shows, and his mother was a teacher, according to The Daily Mail. His parents separated when he was 17.
4. He moved to Tokyo at age 17 for several months. He learned Japanese and developed his own software for playing card games, reports The Telegraph. "I was holed up in the middle of this world where it was just me on the Internet," he said, according to The Guardian.
5. He sold 25% of Tumblr as part of a $4.5 million funding round in 2008. He did it to make enough money to keep Tumblr going. The buyers were two venture capital companies: Union Square Ventures and Spark Capital.
6. He loves riding his Vespa. "I've always wanted a motorcycle, and I thought a Vespa was a good first step," he told Inc Magazine. "It's a lot cheaper than cabs for getting around the city. It costs $5 to fill it up, and a tank of gas lasts all week." He also likes to drive cool cars, and joined the Classic Car Club in Manhattan, which lets you borrow cars like a 1996 Porsche 993 Carrera for the weekend.
7. He's a photography nut. In 2011, he bought his dream camera, a Leica M9, and he has personally taken most of the Tumblr employee photos, according to Inc.
8. He loves to sleep. "Sleep is precious to me," he told Inc. "I'm very disappointed if I don't go to bed before midnight. We have a rule: no laptops in the bedroom. Being on computers all the time makes me feel gross."
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