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David Karp, 27-year old founder of Tumblr,  is set to earn a bonus of $81 million in addition to his salary if he stays at Yahoo! for the next four years.  Tumblr was launched in Feb. 2007 by Karp, a New York City high school drop out and acquired by YAHOO for $1.1 billion in May 2013.

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A photo illustration shows the applications of Yahoo and Tumblr on the screen of an iPhone in Zagreb May 20, 2013. REUTERS/Antonio Bronic

Yahoo Inc is acquiring blogging service Tumblr for $1.1 billion cash.

The deal will use about 1/5 of Yahoo’s $5.4 billion in cash and marketable securities.

“Per the agreement and our promise not to screw it up, Tumblr will be independently operated as a separate business,” Yahoo said in a statement on Monday.

Yahoo Buys Tumblr

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