If not quite running on fumes, Tumbr was certainly in need of a financial refueling before Yahoo agreed to buy the startup for about $1 billion. “Tumblr, which had raised $125 million since
2007, had $16.6 million in cash left when Yahoo bought it,” AllThingsD reports, citing a 10-Q form Yahoo filed with the SEC, this week. To keep founder David Karp onboard, meanwhile, Yahoo has
promised to pay him up to $81 million in cash and stock.
Read the whole story at AllThingsD »
