6 Tech Millionaires Made By Monster Mergers
With Yahoo’s (NASDAQ:YHOO) much-discussed acquisition of Tumblr dominating the headline cycle, we look at six scrappy entrepreneurs who turned into multi-millionaires through big acquisitions from technology giants — starting with the blogging platform’s David Karp.
Tumblr – David Karp
Tumblr, started in 2007, is a part micro-blogging, part social networking site that allows users to post multimedia and other content to a short-form blog. It has approximately 100 million blogs on its network, and was acquired by Yahoo! (NASDAQ:YHOO) in May 2013 for $1.1 billion. Founder David Karp, a 26-year old born and raised in New York City, dropped out of high school at age 15 and after homeschooling, worked at UrbanBaby as Head of Product. When the company was bought by CNET in 2006, Karp used the money from the sale and started his own software consulting company, Davidville, where he worked to launch his microblogging website in February 2007. According to Forbes, he is already worth about $200 million.