American web developer and entrepreneur David Karp has an estimated net worth of $200 million. He is also the Founder and Chief Executive Officer of Tumblr, a short-form blogging platform. In 2012, it reportedly had $15 million in revenues. It was announced on May 20, 2013 that Yahoo! and Tumblr have reached an agreement. Yahoo! will acquire Tumblr for $1.1 billion while Karp will remain as the CEO of the company.
Born on July 6, 1986 in New York, David grew up in the Upper West Side of Manhattan. He attended the Calhoun School at three until the eighth grade. At the age of 11, he already began learning HTML and has designed websites for local businesses. He then went to Bronx High School of Science for a year then dropped out of school to start homeschooling for three years while working on other projects.
At fourteen, Karp began his career as an intern under Fred Seibert at the animation company, Frederator Studios. He was responsible in building the first blogging platform in the studio. He also conceived, wrote, and edited their first internet video network called Channel Frederator. He continued his work online for parenting forum UrbanBaby until it was sold to CNET in 2006.
David Karp soon launched his own company called Davidville while working along with computer engineer Marco Arment on projects for clients. In 2006, they began working on a microblogging website which was launched in February 2007 as Tumblr. As of June 11, 2013, it already hosts more than 114 million blogs.
In August 2009, Mr. Karp was named Best Young Entrepreneur 2009 by BusinessWeek. In 2010, he was named the MIT Technology Review TR35 as one of the top 35 innovators in the world under the age of 35.
Earnings & Financial Data
|
Date |
Category |
Description |
Amount |
|---|---|---|---|
|
2015 |
Asset |
Seed investment in Thirty Labs |
$2,000,000 |
|
2013 |
Asset |
Series A investment Superpedestrian |
$2,100,000 |
|
2013 |
Asset |
Seed investment in Kitchensurfing |
$1,000,000 |
|
2012 |
Sale of Asset |
Amount received after selling Tumblr to Yahoo! |
$1,100,000 |
|
2012 |
Asset |
Series A investment Picturelife |
$4,000,000 |
|
2012 |
Asset |
Convertible Note for Circa |
$900,000 |