Tumblr founder David Karp hits the billion dollar jackpot!

[Chimera]

It will likely be years before we know if Yahoo!’s blockbuster $1.1 billion deal to buy social blogging platform Tumblr was a success. But 24-hours after the deal was officially announced, a few things are certain: The deal represents a landmark event for New York City‘s tech startup scene, and a handful of Tumblr employees and investors are now extremely wealthy.

 

Founder David Karp: $253 million

 

Karp, the 26-year-old high school dropout who founded the company six years ago, owns approximately 25% of Tumblr and is set to reap $253 million in cash as a result, according to data compiled by PrivCo, a New York-based research firm that tracks private companies and the venture capital industry. Karp’s net worth had already been estimated at $200 million after Tumblr’s most recent venture capital round, but by tech mogul standards, he leads a relatively frugal lifestyle. (His Brooklyn loft is worth $1.6 million, but it’s only a one-bedroom.) At least now Karp can afford to go to college, he quipped to The New York Times. -

TIME

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[Safferz]

Yahoo manages to become relevant again.

 

Hi Chimera

[Chimera]

Hello.

[Chimera]

The value of Twitter

 

How much is Twitter worth? Close to $10 billion according to GSV Capital Corp, which is an investor in the microblogging outfit. GSV owns 1.9 million shares in Twitter and values them at $35.2 million, or about $18.50 a share. On a share count of almost 530 million, that makes the company worth some $9.8 billion.

 

While CEO Dick Costolo has stated that management isn’t concentrating on an IPO, Twitter is widely expected to sell some shares to help it fund expansion, and enable early investors to make financial gains on their holdings, reports Bloomberg. --

LINK

[nuune]

^ Are you planning to start a tech start up firm, base your idea in the African market and it will explode.

 

Remember, Africa's population today stands at 1,100,171,000, if you can get to sign up 200 million of that figure then you are the next Faceka and Twittka.

 

There are already some social media start ups in Africa but they are missing the main elements employed by Faceka and Twittka, fierce and aggressive advertising and back-end experienced engineers, the possibilities are endless, the reason Bebo failed was because they only had 14 employees at back-office while Faceka was doing 200 hundred of engineers, marka naga daaya cayaarta ee lets get into this African Market where everyone now has a mobile phone with 3g internet connection.

[Somalia]

Bebo and MySpace both failed cause they were slow websites with much worthless blob in them. Particularly the slowest of them all MySpace, how long did it take that website to load? People love simplicity and Facebook was the most simplest of all, its idea was simple but today they are adding more requirements especially when adding people to your friends list and they have privacy issues, which is why people are migrating to Twitter.

 

As a Tumblr user for 3 years, I think it is a bad idea for him to sell it, it had what the others had for only a limited time 'cool', and they sold it to cursed Yahoo! as well.. smh

[Chimera]

I have something else in mind, your idea needs millions in investment, before you make a dent. However when you create something new and unique, the market is yours.

 

You have a scary mind Nuune, brilliant but scary, some ideas you should keep close to your chest.

[nuune]

^^ lol brother, the rule is, if I can't implement it, then I let it out for others to discover it, even though most of my ideas are still inside my chest and I let many others share with people, I know for a fact that one of the best ideas I had in mind and even actioned it by way of research and product sample has being implemented by someone else(I didn't let out this but they were thinking like me), they had the camapcity to bring couple of heavy white guys who don't do nothing but act as the big guys for the company, they are now making millions of dollars, but believe it or not, the service is a unique one and they are the only one's in the market, so still I have the necessary skills to even overtake them and employ an even much more robust uniqueness(too bad they are using a non-Somali name due to the fact they are only targetting Africans and their Somali customers are not that much so I can tap into the Somali market where they failed, you see where I am going with this).