(DAILYMAIL) — David Karp, the 26-year-old founder of blogging site Tumblr, has just made to make a lot of money - almost in spite of himself.
Yahoo's board of directors agreed on Sunday to buy his wildly popular blogging platform, which boasts 100million users and 90million posts per day, for $1.1billion cash.
The deal could make the native New Yorker the latest 20-something tech billionaire, even though he was publicly opposed, even just last year, to selling the company he founded out of his mother's small Manhattan apartment in 2007.
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On Sunday afternoon, it was revealed Yahoo's board approved the purchase of Tumblr, despite its revenue of only $13million last year. Even that figure was only made possible after $125million in capital investments.